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Gold Price Forecast: Bullish Reversal Sparks Rally
video A bullish reversal off Wednesday’s bottom hammer candlestick pattern triggered on Thursday, leading to a sharp advance to test resistance around the 2,009 interim swing low. Gold hit a high of 2,008 today before finding intraday resistance and pulling back. Since this is just the first day of the reversal a continuation to higher prices seems likely. Whether that happens tomorrow or following an interim rest day, an inside day possibly, remains to be seen. Nonetheless, a drop below today’s low of 1,990 makes a bullish resolution to today’s breakout much less likely. chart Volatility Increases Since ... (full story)