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Gold’s Price Action Shows Bearish Bias After Break/Throwback

posted by Avatar FXTimes 812 days ago in Technical, Daily, Gold made popular 812 days ago

The rally from 1410 broke above the consolidation zone, but the market does not seem to be developing a good bull run. The RSI failed to break above 70, so although the bearish momentum was invalidated, there is no bullish momentum with this breakout. Also at 50% retracement, we have seen a strong throwback as the US session got underway…
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