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Gold Daily Update: Triangle pattern and bearish divergence
Gold Spot / U.S. Dollar
Short
Gold Daily Update: Triangle pattern and bearish divergence
By MujkanovicFX
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Jul 11, 2019
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Jul 11, 2019
Gold is closing today's trade in a bearish tone after a rebound in the US dollar following stronger than expected inflation numbers.
The spectacular bull run shows signs of exhaustion, with the RSI printing a triple bearish divergence.
We may see a correction of the recent impulse move to the $1.368 area, which aligns with the 38.2% Fib level and a strong horizontal support zone.
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