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Gold keeps drifting lower
Gold is continuing its decline following last week’s weakness. The lack of any notable reaction to the intercontinental missile test from North Korea last week, is a potential warning sign for gold. However, given the trend we currently have in place, the 76.4% and trendline support confluence looks like an interesting area to look for longs.
A break below $1298 would negate the current bullish outlook. However, with a clear uptrend in place here, it looks like we could see the bulls come back into play once more.