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Analysis on Gold (high seller sensitivity on the 1700 level).

Analysis on Gold (high seller sensitivity on the 1700 level).

Gold has had a good run these past couple of weeks. However, it has reached the 1700 level of resistance. Gold has had trouble penetrating this level and staying above it. The shooting star candle is a huge clue that sellers have come out to play. My plan is to short it to the 1590 area and stop my loss at a close above 1750 level. There is a lot of uncertainty and the demand for gold is still out there. Although, i think this time is more of a liquidity issue for the demand of gold . Like always do your own research and have a plan to trade.

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