As mentioned in a previous post on Gold, the upper rising channel resistance triggered a correction sending the price towards the lower rising channel support and stumbling over a previous resistance turned support around 630 - 635 area which ended the correction. The COT numbers fell towards the support around -130K and should have started rising, as we will probably notice in the next week COT report. If the 655 - 660 previous resistance turned support and now turned resistance again area gives in, the gold bullish march should be back on its track to full retracement towards last year's highs (around 730).
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