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Gold – Losses below $1320

FX_IDC:XAUUSD   GOLD / US DOLLAR
Gold’s repeated failure to get sustain above head and shoulder neckline level if followed by a break below $1320 today would suggest a retreat to $1300 levels (rising trend line). Only a break below rising trend line support seen around $1300 would signal long-term bullish invalidation.

On the higher side, only a day end closing above $1336 would suggest the retreat from the high of $1375 has ended and could yield sideways to positive action.

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