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Gold turning lower from 76.4% retracement
Gold managed to rally into the 76.4% retracement yesterday, yet upon hitting that deep Fibonacci level, we are now seeing the price turn lower.
Following the move below the wider 76.4% level ($1334), there was always a threat that we could be seeing a retracement before we turn lower, rather than a full recovery. As such, a break through $1351 would be required to negate the possibility of a bearish downturn from here.
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