The multi-month bullish gold trend remains in place after yesterday’s USD rally sent the precious metal spinning lower. Trend support was tested for the first time in a month today, and duly held but the rebound looks tepid so far. The trend channel has held since late March/early April with resistance tested on numerous occasions, but not broken convincingly, but it looks likely that this support will come under further pressure after Thursday’s blow-out candle erased two weeks of gains.
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