Gold dropped to around $2,330 per ounce on Thursday due to increasing US Treasury yields and demand for the greenback following hawkish remarks from Fed officials. Fed Atlanta President Bostic expressed uncertainty about reaching 2% inflation and highlighted significant price gains.
Gold moves towards 2350, passing through the lowest bottom of wave 3, but the candlesticks in H4 are leading to a situation where wave 5 is not completed and opens a double bottom pattern. It is easy to break out when the price surpasses the 2361 area SELL GOLD: 2373 - 2375 , SL: 2379
BUY GOLD: 2317 - 2315, SL: 2311 (scalping)
Breakout & retest: - Breaking and closing on: 2354 - 2361 - 2374 - Break and close below: 2335 - 2328 - 2315
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