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The Outlook Of Gold By FXStreet’s Dhwani Mehta - 15.02.2023

The Outlook Of Gold By FXStreet’s Dhwani Mehta - 15.02.2023| FXMAG.COM
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  1. Gold remains vulnerable whilst below the 50DMA barrier

    Gold price is resuming its downtrend below $1,850 in Wednesday’s trading so far. $1,825 remains in sight for XAU/USD bears, as FXStreet’s Dhwani Mehta notes.

    Gold remains vulnerable whilst below the 50DMA barrier

    “The next downside target is the falling trendline support at $1,838 should the previous day’s low give way. Further declines could challenge bullish commitments at the horizontal trendline support from the January 5 low at $1,825.”

    “Recapturing the 50-Daily Moving Average resistance at $1,860 is critical for Gold bulls to initiate any meaningful recovery toward the $1,870 supply zone.”

     

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