gold3-1024x407Once Again, gold spot market rates found themselves near the downward trend line. This time however, the correction was more dynamic than in the previous cases. Therefore, we should be extremely careful and try to catch decreases only after proper supply signal will form. It is also a retest of recent low, so bearish momentum will definitely activate.

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Member and editor of Finance Magnates - the biggest FX, and binary options B2B website. A graduate of the University of Economics in Krakow, active publicist since 2012. Technical analysis is always more important to him than the fundamentals – however, he does not reject the importance of macro data. As he assumes that, the simpler the better, he is a strong fan of Price Action trading strategy and Fibonacci retracements.