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Gold turning higher from 76.4% retracement
Gold has started turning higher, following a deep 76.4% retracement.
The wider uptrend points towards a possible bullish revival from here, where the oversold stochastic and a potential reversal in direction on the moving average convergence divergence (MACD) histogram all add to the notion that we could turn higher from here. With that in mind, a bullish outlook remains in play, unless the price falls back below $1324 support.