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Gold May low still a possibility
Gold continued to move lower yesterday, with the next targets on the downside being $1246 and then $1237, the 100-day and 200-day simple moving averages (SMAs) respectively.
We would need to see a move back above $1265 to suggest a bounce may be in play. The May low at $1213 is still a possibility should the current retracement continue.
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