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Gold has been trading sideways at the price of $1.705 and there is potential for the breakout of rejection of the key support level.
Key support is set at the price of $1.701 and it will be very important to observe price action around it to confirm further direction,
In case of the breakout of $1.701 I see potential for further drop towards $1.682.
In case of the rejection of $1.701, there is chance for rotation back towards $1.715-$1.721
Relevance up to 08:00 2022-11-11 UTC+1 Company does not offer investment advice and the analysis performed does not guarantee results. The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
