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Bearish rebound still intact
Gold’s rebound from last Thursday’s low continues, although it remains a possible selling opportunity if the price drops back below $1180.
A broader rally will challenge $1195, $1205 and then $1214. Even a move to $1240 would still be only a bearish rebound. The initial target for any renewed move lower is $1160, and then on down to $1126.
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