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Gold fails to move higher again
Gold continues to bump its head against $1307, as previous key support turns into seemingly insurmountable resistance.
The short-term push higher from the May lows, marked by the rising trendline from the $1282 low, remains intact. This might suggest another push back to $1307, but bulls need a daily close back above this level to suggest a really bullish turn. A move below $1295 would negate the trendline and lose key horizontal support from the last few days, opening the way to the $1282 low.