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Gold tests trendline resistance
Gold is gaining ground once more this morning, with price rallying into the same ascending trendline which underpinned the triangle pattern we were watching last week. As such, there is a good chance that the rally could be over for another move lower from here.
Whether that is the case or not, we would need to see an hourly close back above $1357 to get back into a bullish mindset and as such, any short-term rally is seen as a temporary move which will likely lead to another leg lower.