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The analysis of high frequency trading algorithms today shows that gold is rebounding following this morning's reversal at the light HFT buying pressure zone today, located at $1748.93 and below.
An additional fact lending a hand in this situation is that gold was at oversold levels at the rebound. This is confirmed by the advanced FxTR overbought/oversold indicator (see chart below).
To the upside, bulls may look for targets toward the light HFT selling pressure zone is located today at $1770.41 and above, which is where the prior most recent highs also stand.
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