The price of gold is once again at an all time high after it succeeded in jumping over the significant resistance level of 1600 dollars at the beginning of the week. the negative deviation has been created in the MACD indicator which suggests that a steep fall in the price of gold can be expected in the immediate future.
A daily closure, once again beneath the resistance and test level of 1600, will confirm the potential trend reversal and the move to a wave of price drops, Just a short correction can be expected to lower the price of gold in the direction of the support level at 1550 dollars.
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