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Ichimoku cloud indicator analysis of Gold for September 5, 2018


Gold price remains inside the longer-term bearish channel. We had some indications for a bounce towards $1,220-30 but price has broken back below the critical $1,200 level. Last chance for bulls is at $1,180. Holding that level could provide bulls with another opportunity for a higher high towards $1,220. Otherwise a break below $1,180 will open the way for a move towards $1,140-$1,110.


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