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Gold trading at key breakdown support level
Gold is seemingly forming a head and shoulders pattern in the wake of a rally into the 76.4% retracement level ($1228).
The break below $1220 would spark a bearish short-term view, with a projected head and shoulders target of $1208. However, that only comes with a break below $1220. Until then, there is a chance of a rebound from this support level.
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