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Gold: Threatening Top of Larger Consolidation Area

From dailyforex.com

Gold markets gapped higher to kick off Wednesday, turned right back around to fill the gap, and then turned around to show signs of strength again. At the end of the day, the market is just above the $1825 level, and it looks at this point like we will probably threaten the $1830 level, an area that I think is the top of the overall consolidation area that we have been in. If we can break out of this area, then I anticipate that the $1875 level will be targeted, as it is an area of extreme interest and on the volume profile (not shown on the chart) It is also an area that has shown a lot of interest. This is a market ... (full story)

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  • Category: Technical Analysis