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Gold’s Rally Falters: Is a Deeper Retracement Ahead?
video Gold looks to have run out of steam today. It first advanced above yesterday’s 2,007 high early in the session before being hit with resistance that led to a decline to well below yesterday’s low. A one day outside day reversal is now in play. It may lead to a deeper retracement before gold is ready to resume its advance. Nevertheless, further signals are warranted. chart Following today’s close a break below today’s low of 1,979 will signal weakening. And further still on a drop below the three-day low of 1,777. Downside targets will then start with the 23.6% Fibonacci retracement at 1,963, ... (full story)