The option for today is a series of articles about binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
As a result of yesterday’s gains, GOLD reached local support close to 50% of the Fibonacci correction from the previous declines, where today the first supply response has already occurred. The relatively small dynamics of these increases may suggest that this is only a correctional move, and a permanent rejection of the resistance being tested could open the door to further decline. In the short term, therefore, it is worth considering PUT options on this instrument.
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