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Gold Breaks Resistance; Awaiting Pullback
Gold Spot / U.S. Dollar
Long
Gold Breaks Resistance; Awaiting Pullback
By AlgoVenture
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May 17, 2021
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May 17, 2021
The gold opened low but climb throughout the Asia session and reached the equilibrium level at 1856.
The price has clearly broken above a 1-week resistance and may continue so within its current 2-month rising channel.
Wait for a pullback to 1842 to buy in again, targeting the equilibrium level at 1856, and then the top of the channel at 1871.
dailyforecast
dlifestyletrader
Gold
Parallel Channel
preciousmetals
Support and Resistance
tradingforecast
tradingideas
Trend Lines
XAU
XAUUSD
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