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Gold stuck in consolidation, getting ready for a huge breakout- GOLD Market Outlook – 19/06/2020


Trump’s most forceful threat on China so far failed to provide lasting bullish momentum to the yellow metal
as it ended yesterday’s session in the red at $1721.70 after printing a a daily high at $1737.73 ( with our long resistance target at $1738) as U.S government bond yields fell and a stronger greenback suppressed further gains as unemployment filings came in higher than expected. Technically, we are still stuck in a consolidation range looking for a breach for a clearer direction.

Support: 1717.5 / 1708.5
Resistance: 1730 / 1738 / 1744

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Source: https://www.squaredfinancial.com/learn/daily-market-outlook/gold-stuck-in-consolidation-getting-ready-for-a-huge-breakout-gold-market-outlook-19-06-2020
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