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Gold falters again
Gold is under pressure once again, with the price testing the 50-day simple moving average (SMA) at $1333. Further declines will challenge the bottom end of the current range, bringing $1326 and then $1314 into view.
With momentum oversold on the four-hour chart, a rebound may develop in the direction of $1338 and then $1346, but a longer-term rally requires a move above $1360 and then a daily close above $1366.
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