Technical alert: Gold

Looking at the gold chart, the price of this precious metal rebounded today from the resistance at $1557. The level is marked with the upper limit of the Overbalance structure. As long as the price sits below it, one could expect a decline towards recent lows at $1535. On the other hand, a break higher could see upward move accelerate and move towards the next resistance at 1580$.

Gold H1 interval. Source: xStation5

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Morning wrap
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