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Gold Consolidates Near Support: Key Levels and Potential Breakouts
video Gold has been trading in a relatively tight range for the past four days as it consolidates around support from the February peak (1,960). The parameters of range include a high of 1,986 and a low of 1,952. It has already completed a 38.2% Fibonacci retracement at 1,977 and has fallen halfway to the 50% retracement at 1,944. Also, a little lower is possible support around the 100-Day EMA, currently at 1,933, and a minor swing low at 1,934. The uptrend line is also close by. chart The uptrend line provides dynamic support for the trend. Gold should not close below it on a daily basis in order to maintain its ... (full story)