Gold Poised to break out of Condolidation Wedge
Gold has been trading sideways for the past 6 months but the range is getting smaller and smaller as the market coils up and should pick a side in coming days.
Topside makes alot of sense with gold seen as a natural inflation hedge in the past so could see a new story develop to support a rally. Even as USD has been strong this week it has crept higher.
Key level is downside trendline at $1800-1805 then we have previous highs at $1830 and $1911 that would be targets the market naturally will try for.
Topside makes alot of sense with gold seen as a natural inflation hedge in the past so could see a new story develop to support a rally. Even as USD has been strong this week it has crept higher.
Key level is downside trendline at $1800-1805 then we have previous highs at $1830 and $1911 that would be targets the market naturally will try for.
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