LeoPrime Daily Market Analysis

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Gold reversed from the resistance zone; Likely to fall to support level 1732.00.

Gold recently reversed down with the daily reversal pattern Dark Cloud Cover from the resistance zone lying between the round resistance level 1800.00, upper daily Bollinger Band and the 61.8% Fibonacci correction of the previous downward impulse wave from the end of January – which started the active medium-term ABC correction (4). Given the prevailing downtrend – Gold can be expected to fall further toward the next support level 1732.00 (former strong support from the middle

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