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Gold turning lower from 61.8% retracement
Gold has started turning over yet again, following on from a rally into the 61.8% retracement level.
There is a strong chance that we will see the market continue to turn lower, with the failure to break above $1212 seemingly paving the way for another move towards the downside. Given the wider downtrend, the ability to break below $1919 will be key in pointing towards another strong move towards the downside.