Main scenarion:
While gold is trading above support level $1320, we have chance for uptrend to resistance level $1334 and then to $1350. But, the market looks friable and seems that we have the same chance to break support level $1320. Thats why we better to wait for $1334 to break before we will reach level of resistance $1350.
Alternatie scenario:
If the market will break down below the support level of $1320 it will begin consolidation to the main support level $1310, and if it keeps on moving down below that level we may expect the pair to reach support level $1297.
S/R levels:
Supports: 1320 (main), 1310 (strong), 1297 (very strong)
Resistances: 1330 (intermediate), 1334 (main), 1350 (strong)
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