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Gold consolidating after 76.4% bounce
Gold has failed to really follow through on its initial bounce from the 76.4% retracement, with the price unable to rally through the $1349 swing high yesterday.
A break up above that level would provide greater confidence of a move higher, but until that happens we remain susceptible to another move lower. That being said, given the wider uptrend, a bullish resurgence still seems likeliest from here.
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