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Gold uptrend continues after recent breakthrough
Gold managed to break through the $1237-$1243 resistance zone last week, bringing about a new higher high on the daily timeframe. This also continues the uptrend seen since the market bottomed out in August. With the price currently drifting lower, there is a chance we could start moving into another wider retracement phase.
However, until we break below $1235, there is also a chance that this is simply a short-term pullback before we start to regain ground once more.
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