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Gold breaks key resistance
Gold succeeded in moving above key resistance at $1264 yesterday, and so far, a small retracement is finding support at this level.
The next target is the downtrend line that runs from the summer 2016 highs, which would suggest a move to $1280. Above this $1295 and $1307 come into play. A truly bearish development requires a move below $1255, to break the sequence of higher lows that has held since the May bottom.