Contributors Technical Analysis Gold Retested The Broken Support

Gold Retested The Broken Support

Price dropped after the retest of the first warning line (WL1) of the major ascending pitchfork. The downside was paused by the strong support area near the 50% Fibonacci retracement. Only a valid brekdown below the 50% level will announce a further drop. A USDX’s breakout above the 93.81 static resistance will send it towards the $1248 per ounce.

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