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Gold Price Forecast: Key Indicators and Targets
video Bullish momentum in gold improved today as the precious metal hit a four-week high and a higher daily high. And it may be able to end Thursday’s session above Wednesday’s high of 2,056. It also exceeded the 2,062-swing high but could not hold above it. As seen yesterday as well, today’s low successfully tested support at the top of the pennant consolidation pattern, the downtrend line, and both the 20-Day and 50-Day MAs. chart Notice that the two moving averages have converged and therefore identify a similar price level. That is the market telling us that it recognizes the moving averages. Having ... (full story)