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Gold today reversed up from the support area lying between the key support level 1693.00 (which has been reversing the price from May), lower daily Bollinger Band and the 38.2% Fibonacci correction of the previous upward impulse from the start of April. Given the clear uptrend that can be seen on the daily charts – Gold is likely to extend the gains from the current levels toward the next resistance level 1740.00 (top of the previous correction (b) from the start of June).
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