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Gold, Silver Price Forecast: Gold Attempts 1800 Hold, Silver Fibonacci Resistance Test

From dailyfx.com

Gold prices finished last week’s weekly bar as a doji, and that makes two consecutive weeks in which that’s happened. A doji in and of itself is indecision and two consecutive dojis is, you guessed it, more indecision. It does take on a bit more interest when looking at the prevailing trend, however, as a strong breakout in November has started to hit turbulence around a prior spot of resistance, taken from the August highs around the 1819-1824 area on the chart. From the daily chart below we can get greater gradience to the matter following last week’s failed breakout at 1824. That took place on Tuesday and prices ... (full story)

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  • Category: Technical Analysis