Gold is bouncing from the support confluence
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Gold is bouncing from the long-term strong support confluence rectangle and the uptrend line coupled with the Gan line. This bounce has to be confirmed next week for an extension upside to an eclipse-shaped and long-term horizontal resistance 1920. A breakout above 1920 is needed in the long run for the upside extension above 2000.
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On the weekly chart, we can see that Gold has bounced from the support of the Andrews Pitchfork channel and this is also confirming monthly confluence strong support. This bounce will accelerate to channel half median 1900 upon a break above 1800.
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On a daily chart, we can see that the Already a member? This article is so good, it’s for premium members only.
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