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Gold holding strong
The uptrend is intact for now, with gold holding above the uptrend line established over a week ago. However, momentum appears to have stalled, with a potential lower high at $1257.
The bulls need to keep the price above $1245 to avoid the impression that a turn lower is at hand. A close above $1264, the highs from last week, would mark a fresh breakout and clear the way to $1280 and $1300. Below $1245 the price could head back to $1239, and even down to $1225.
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