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Gold looks set to sell off once more
Gold broke lower from an ascending channel yesterday, following a deep retracement through the 76.4% Fibonacci level.
We have since seen the price move lower, and while we have not had confirmation via a break below $1213, a bearish outlook remains as long as we stay below the $1229 level. As such, unless we break that $1229 resistance, any rally could provide shorting opportunities.