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Gold Price Outlook: Bulls Weigh the Odds of Another Bounce Above $4,000

From forex.com

It was encouraging to see WTI crude oil prices also bounce from the support level I highlighted last week. Oil prices had fallen 44% from their post-war spike, printed their smallest bearish weekly candle in more than four months, yet consistently held above their pre-war close with near perfection. Crude oil prices have risen by as much as 13% from last week's low as President Trump once again verbally attacks Iran, making it easy work for bulls after an extended selloff into a key support level. Gold's price action is more nuanced for bulls, but they may still have a case for a cheeky bounce higher, at least over ... (full story)

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  • Category: Technical Analysis