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Gold closed higher on Wednesday. The high range close sets the stage for a steady to higher opening when Thursday's night session begins. Stochastics and the RSI are bullish, hinting that a short term low might be in or is near. Closes above the 20day moving average crossing are needed to confirm that a short term low has been posted. If it renews the decline off last October's high, the 62% retracement level of the 2008-2011 rally crossing is the next downside target.
Gold stays near highs with $3K within reach. US inflation data could fuel the next gold rally. Key levels: Support at $2900, resistance at $2950-$3K. Get the AI-powered list of...
Gold faces low volatility around 20-day SMA Short-term bias looks neutral-to-bearish Gold maintained a muted tone around the 2,900 mark as the new week kicked...
Whilst we’ve still our near-term negative bent for the price of Gold, nonetheless let’s reprise this from last week’s missive: “One thing to watch is a stirring of geo-political...
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