After Dovish FOMC statement Gold price earned fresh buying interests as a result of potential delay by the Fed and widespread economic uncertainty. Profit-taking and long-covering has since sent gold from 1128.16 top down to the low 1120s, however broad interests persist. Gold may hold on to its rally top, albeit trading volatility through today.
Most Likely Scenario ;- Long above @1118.33 with target 1129.80 for further extension
Alternative:- short below @1118.33 with target 1110.31 for further retarcement.
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