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Gold Video Analysis: Strikes Short-Term Bearish Guideline

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The double floor was accomplished wonderfully after a manual 'throw back' to the clavicular line of the formation. And now we have him 'rearing his head' above the daily MM200.

It must be recognized that the gold It is moving around in recent times in a fairly predictable and orderly fashion. What we have in front of us is a double floor This was confirmed in mid-April and at the end of the same month we were witnessing a fall in the form of a 'throw back' to the clavicular of the formation. Since then the price has not stopped climbing positions and right now we have it 'rearing' its head above the daily MM200. And above we have a potential upward guideline (since we only have two points of tangency) in the area of ​​approximately $ 1,860. Around this area we have significant resistance that, if it is easily overcome, would leave the door open to a new section with a target at the highs at the beginning of the year at $ 1,960. Let's see how the price behaves in the face of resistance around the corner.

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