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Gold – A breakout is coming
While trading on Monday may have given the impression this was just a blip, as gold ended the day above $1,800, as we’ve seen today, those vulnerabilities remain as it once again plunged back below. This leaves gold in a very strange position. It’s clearly still got plenty of support as it continues to push above the $1,800 handle but it’s having a hard time holding on and continues to be forced back. Something has to give. At times today, it looked as though that may be a key support level around $1,780, which would have resulted in a bearish engulfing pattern on the daily chart and a break of the rising ... (full story)