Gold – Still Crawling Higher?

13 Aug - Gold Daily

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Hi All,

On my previous commentary on this previous metal, gold price did break out from the triangle but it did not go far. Instead, it started moving higher again. For the 2nd time, price is testing the new resistance (old support ~1346). At the same time, it is also potentially forming an ascending triangle.

Is gold starting a new upward trend? Or is it making a short continuation? I believe this test will give us a clearer direction.

Thank you for reading and happy trading.

 

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