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Gold opened lower this morning, dropping to 4744, with a violent deep V-shaped rebound on the 15-minute chart, then rallying from the 4744 low all the way up. The short-term rebound is basically complete, with strong resistance at the previous high above. The rebound is an opportunity for bears to enter.
Trading Suggestions
When the rebound reaches the 4815-4845 range, go short directly, with the initial target at 4780. If broken, look at 4720-4750.