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Will gold rally from deep retracement?
Gold has been selling off following an intraday topping pattern which broke lower yesterday. The projection of that target brings the price down to $1260, which coincidentally is the key support level which would have to break for a bearish view to come into play.
Until that happens, there is a good chance of a bounce to continue this recent resurgence. Should that occur, watch out for $1267 and $1274 as the near-term key resistance levels.