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TFC Commodity Trading Forum

Gold/Tests Suppport/Weak Bounce Back *PIC*

Gold sold off hard and then tested important support and bounced back quickly. But the bounce back only retraced a weak Fib 38.2% retracement of the selloff and stalled out. Not a good looking chart presently and suggests another test down. DX also pulled back and tested the early Sept rally high at 77.90 and is rebounding back again off that support level. I don't think DX is finished rallying either and should still kick some serious ass ahead on inverse markets.