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Gold Price Forecast: Faces Resistance After Hitting 50-Day MA
video Gold got a strong start on Wednesday, reaching a high of 2,342 before sellers took back control. Much of the day’s range was retraced at the time of this writing. It looks like gold may close in the lower quarter of the day’s range. That would not be a sign of strength, especially after testing resistance around the 50-Day MA earlier in today’s trading session. chart Last Friday, gold fell sharply through the 50-Day MA following a bullish trend continuation signal earlier in the day. And it closed at the low of the day, which was also a weekly close. That set up a potentially bearish shooting star ... (full story)