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Gold Faces Near-Term Headwinds, Bears Eye Break Of 1,480
A stronger USD, prompted by the Trump probe, has seen metals under pressure with gold shedding over -1.8% by the close. Whilst prices have remained supported above 1,480 the potential for near-term weakness seems apparent, given yesterday’s 2-bar reversal. Eagle-eyed candlestick traders could note that yesterday’s bearish bar doesn’t quite pass as a bearish engulfing or outside day. Yet the -1.8% decline was the 2nd most bearish daily range this month and marks a prominent lower high, a scenario discussed two weeks ago. “…given the levels of support nearby [1,480], a minor bounce could materialise and form ... (full story)