Gold – sideways action likely

FX:XAUUSD   Gold Spot / U.S. Dollar
Gold’s sharp decline on Friday and a breach of the daily rising trend line suggests the rally from $1312 ( trend line support then) has topped out for now at $1367 levels, however, a loss of momentum could restrict gold             in the range of $1330-1342.

Bulls may make a comeback only if prices see an day end close above $1342 (expanding channel hurdle).
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