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Shooting star on gold’s chart: sign of bearish reversal ahead?
On Thursday, we witnessed some remarkable moves on gold who is currently experiencing high volatility. Today’s candle could be crucial in setting the sentiment for the upcoming days and weeks. Sellers have a huge chance to initiate a bigger bearish reversal – let’s see how they play this one. During today’s Asian session, gold spiked and managed to set new long-term highs, coming close to the round barrier of 2080 USD/oz. The price was, however, quickly rejected and the area (lavender) remains a key resistance level, established by the top from March 2022 and 2023. Currently, the daily candle is shaped like a ... (full story)