Gold has certainly rallied more than I expected having breezed through what I expected would be stiff resistance at $1700. Until it makes a new all-time high I'd have to remain bearish. We now have a channel pattern having formed with the lower boundary, to me, looking like it wants to be revisited around the $1700 level. It just feels like a lot of space needs filling there. On the other side A push through $1800 would see a swift test of the all-time high around $1900 I suspect. Watch for the breakout of this channel and the $1800 level.
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