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Gold flips backwards but still shines above 2,000
video Gold could not mark a new higher high above January’s tough resistance of 2,065, correcting lower to close around its 50-day exponential moving average (EMA) and the support trendline from November at 2,025. The latest downturn in the technical indicators has increased downside risks, but the series of higher lows that started in October keeps feeding hopes for a bullish continuation as long as the price holds above the 2,000 round level. Should the bears breach the 2,000 floor, the price could dive into the 1,965-1,975 zone formed by the 50% Fibonacci retracement of the previous upleg and the 200-day EMA. ... (full story)