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Gold looks ready for a breakout – GOLD Market Outlook – 20/07/2020

SquaredFinancial

Gold ended Friday’s session in the green back above the 1800 level and the 200-period SMA on the hourly chart as Covid-19 deaths in the US surpassed 140000 while President Trump downplayed the severity of it saying the US has the ‘best mortality rate’ . A weakening greenback should support higher prints on the yellow metal with an hourly close above 1815 to open the door to further gains.

Support: 1800 / 1790
Resistance: 1815 / 1835

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-looks-ready-for-a-breakout-gold-market-outlook-20-07-2020
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