Gold is rejected by the 1330-1340 upside resistance zone
On the Gold daily chart, we can see that the instrument is being rejected by the strong upside resistance zone and is pulling back within the rising wedge. A rising wedge is usually a bearish price action formation. As long as the pair is below the 1340Â look for the short trade entries.
Note: look for the short trade entries with the stop loss above the 1330Â level.
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