This is an important support from which we should see more buyers coming in. In smaller timeframes it might be bearish but I am still bullish on gold for the long term.
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As expected...
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Nice daily close showing a bullish engulfing candle. Now the bulls need to follow through, however it's also a good area for bears to sell. Are you bullish or bearish?
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Going higher and higher. Gold is now trading outside the descending channel, meaning the correction is potentially over.
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When I first posted this, price was at 2300, and now bulls have just breached another resistance level at 2368.
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26 June: XAUUSD was trading at 2300 when I posted the first chart. Today XAUUSD is trading at 2400. Nice!
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