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Gold Is Bullish Inside Its Channel

GOLD TECHS
  • The yellow metal has has continued to appreciate and add to last week’s gains plus has cleared resistance at $1853.9, Jan 25 high and today has traded above $1877.2, the Nov 16 high.
  • This reinforces current bullish conditions and suggests scope for a stronger climb within the bull channel drawn off the Aug 9 low.
  • The focus is on $1903.8, the Jun 8 2021 high.
  • Short-term pullbacks are considered corrective, support is at $1821.1, Feb 11 low.

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