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Gold’s Downtrend: Will It Reverse or Continue? Key Analysis Inside
video The retracement in gold continued today as it triggered a bearish continuation of the downtrend on a drop below 1,915. Both trend indicators, the 200-Day EMA and lower uptrend line were tested as support during the drop. The 200-Day line was busted to the downside briefly, while gold bounced right off support around the lower uptrend line with a day’s low of 1,907.53. A 61.8% Fibonacci retracement was completed at 1,911. After the low was hit, gold bounced. It is on track to close back above the 200-Day line. chart Today’s low is near term support and a drop below it triggers a bearish continuation. The ... (full story)