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Gold struggling
Gold continues to falter at the descending summer trendline, with a push above $1250 still not evident. A push back to $1220 and then $1205 could be in order, but as long as $1195 holds, the sequence of higher lows continues.
Above $1250 we would still look for a broader push to $1280 and the downtrend from the 2011 highs. On the weekly chart the 50-week simple moving average at $1259 is also providing some resistance.
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