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Weak Economic Data supported higher prints – GOLD Market Outlook – 26/11/2020

SquaredFinancial

Gold hit our long entry resistance target at 1815, bouncing off the 1800 support level (coinciding with the 200-period SMA on the daily chart) as the greenback continued to weaken, weighed down by a back to back rise in Initial Jobless Claims and an array of weaker U.S. economic data, spurring safe have demand with 1815 and 1835 as the next resistance targets.

Support: 1800 / 1790
Resistance: 1815 / 1835

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/weak-economic-data-supported-higher-prints-gold-market-outlook-26-11-2020
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