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XAUUSD 13 Oct 2023

XAUUSD 13 Oct 2023 on the weekly timeframe, this commodity is now in the range between S1 and R1. although it had dropped to touch the S1 line, but this commodity managed to bounce back until now successfully at 1873.44. If referring to the stochastic indicator, it seems likely that this commodity is able to continue bullish, and if it continues to successfully penetrated R1 then go-long is an option. But on the contrary, if there is an indication that bearish occurs due to some factor until it breaks S1, go-short can be an option. Keep monitoring and studying the volatile market movements before making trading decisions.

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