Gold broke market structure and closed below key support at 1270 on Friday 11th October.
We have been bearish on gold for some time and We have said that 1270 remains a key level for gold.
As a result of gold’s close below 1270, I now see $1200 and $1179 being tested and ultimately taken out. See above video for potential trade opportunities.
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Alessio Rastani is a stock market trader at www.leadingtrader.com.