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Gold recovers, but still looks fragile
Although the price has recovered somewhat overnight, it still needs to get back above $1244 to confirm more gains are on the way. Even then, it will find itself trapped below the rising trendline around $1265.
A move below $1224 would suggest we will retest the lows of Monday at $1210, with a bigger move down taking the price to the rising trendline and the $1190 area.