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Gold: Fighting the Highs

From dailyforex.com

Gold markets rallied rather significantly in the early hours on Wednesday, but as soon as futures traders came on, they got hammered again. So, at this point, I think we're just going to continue to try to grind higher, but it's not going to be very easy. Ultimately, this is a market that I think, given enough time, probably breaks out above the shooting star from last week, and once it does, it really could start to take off. At that point, I would expect gold to go looking to the $2,500 level. The central banks around the world continue to buy gold. So that of course, provides a little bit of support. But at the ... (full story)

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  • Category: Technical Analysis