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Gold Pullback Into Dynamic Support Holds | Dec. 11th

In my market commentary from yesterday on gold, I suggested gold will likely pullback into the $1705 dynamic support, along with a follow up suggestion to look for longs off this level.

This played out to perfection and price is now just above $1711.30, so hopefully you were able to make some profit on this one.

For now, the precious metal is stuck between the $1705 and $1715 levels until tomorrow, where the FOMC meeting should inject some volatility into the markets, especially Gold. I am expecting a break of these levels, so bears can look for shorts on a breakout retest of the $1705 support area, while bulls who are not already long can look for a price action setup above the pin bar highs from yesterday.

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