Gold forming a strong cup and handle reversal, watch for the dro
Gold has formed a really strong cup and handle reversal with our 1st resistance at 1344 (Fibonacci retracement, horizontal overlap resistance) and a strong reversal could occur at this level to push price down to at least 1325 support (Fibonacci retracement, horizontal overlap support, Fibonacci extension).
RSI (55) has made a bearish exit signaling that further bearish action could be expected.
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Losses can exceed the initial investment so please ensure you fully understand the risks.
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