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Gold Price Forecast: Will the Rally Continue?
video Gold rallied to a new trend high of 2,397 on Thursday before encountering resistance and pulling back intraday. At the time of this writing gold is on track to complete the day with a narrow range, reflecting a pause in the advance. Resistance was seen at the 78.6% Fibonacci retracement and further confirmed by a top rising trend channel line that marked the same price. Support for the day was at 2,371, right at the 61.8% Fibonacci retracement zone (prior resistance becomes support). chart Of note is the relationship of the price of gold with two trendlines. The more significant line is the rising line ... (full story)