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Gold Price Analysis: Short-Term Pullback After Failed Breakout
video Gold triggered a bullish continuation for the bounce as it rose above Monday’s high but quickly hit resistance around the downtrend line. Today’s high is 1,937. Once hit, gold sold off and fell back into Monday’s price range where it also tested support of the 55-Day EMA, currently at 1,929. Tuesday’s low at the time of this writing is 1,930. chart Today’s attempt to break out above the downtrend line has failed and gold is set to close with a short-term bearish candlestick pattern for today. The candle is red and is set to close in the lower third of the day’s range, not a sign of strength. ... (full story)
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- Posted: Sep 19, 2023 5:30pm
- Submitted by:Category: Technical AnalysisComments: 0 / Views: 316
