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Trump sends Gold spiking higher
Gold managed to break through trendline resistance overnight, following confrontational comments from Trump in relation to North Korea. Crucially, we have also seen a break through $1265, thus negating the recent creation of lower highs and lower lows.
A push above $1271 would provide a strong confirmation of the bullish shift, with that level resting above the 76.4% retracement of the entire move lower from $1274. Keep an eye out for that $1268 Fibonacci resistance level. Today seems like a day of discovery, where a break above $1271 would point towards a bullish resurgence, while a move lower from here could see the selling pick up once more.
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