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Gold meets uptrend line in negative mode
video Gold is challenging the medium-term ascending trend line near 2,030 after the sell-off that started from 2,088. The crucial support level for traders to have in mind is the 38.2% Fibonacci retracement of the upward wave from 1,810 to 2,145 at 2,016, where the yellow metal may create a rebound to continue the bullish trend. Momentum indicators are pointing to a neutral to negative bias in the short term with the MACD just below its trigger line and the stochastic oscillator deep in bearish territory. However, the stochastics have reached the oversold area and the %K line is still attempting a bearish cross with ... (full story)