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Scandex Market Update – May 11

Scandinavian Capital Markets

Since reaching the long term parallel (magenta line) on 4/13, gold has traded sideways. Price rolled over last week from short term trendline resistance so be aware of the lower boundary near 1683. A break below there would leave price action since 4/13 as a consolidation top. Immediate downside focus would then be the 3/31 low at 1576.

Scandinavian Capital Markets Review

Source: https://scandex.com/https://scandex.com/2020/05/11/market-update-may-11/
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