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Comex Gold extended its gains in the last session, closing above $4,160 and hovering near a two-week high. The near-term trend remains constructive as rising expectations of a Fed rate cut continue to support bullion. A breakout above the downward-sloping trendline adds to the bullish setup. As long as prices hold above $4,150, an advance toward $4,240 appears likely
(Gold) rose in its last intraday trading, supported by its continued trading above EMA50, and under the dominance of the main bullish trend and its trading alongside supportive minor trend line on the short-term basis, on the other hand, we notice the emergence of the negative signals on the relative strength indicators, after reaching overbought levels that may limit the gains in the upcoming period.
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Technical Power of CFA’s
(CHARTERED FINANCE ANALYST)
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This article is intended for educational purposes only. The views and opinions expressed are those of individual analysts or brokerage firms and do not represent the views of GoldSilverReports.com. Investors are strongly advised to consult certified financial experts before making any investment or trading decisions.
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