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Gold Fails to Break Resistance Trendline; Threatens Reversal

posted by Avatar FXTimes 511 days ago in Technical, Daily, Gold

Gold edged up higher since our last update, but price was still contained as it failed to break above a declining trendline seen in the daily chart. The RSI also shows respect to 60, which reflects maintenance of the bearish momentum. The daily chart shows a projected ABCDE scenario for a descending triangle. A break below 1640 may be needed...
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