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Gold: possible rounding-bottom indicates short-term bullish reversal

   Gold has formed a rounding-bottom reversal pattern on the 4-hr chart. It has also broken above the Monthly Pivot at 1115.00 and now looks set to move even higher.

The two higher highs and higher lows combined with the pattern indicate the very short-term trend has probably reversed bullishly.

It will probably continue up, at least for a little bit, with the 200-4hr MA at 1126.00 providing the next upside target.

A break above the 1119.52 highs would probably confirm such a move.
GOLD12

   
Gold has formed a rounding-bottom reversal pattern on the 4-hr chart. It has also broken above the Monthly Pivot at 1115.00 and now looks set to move even higher.

The two higher highs and higher lows combined with the pattern indicate the very short-term trend has probably reversed bullishly.

It will probably continue up, at least for a little bit, with the 200-4hr MA at 1126.00 providing the next upside target.

A break above the 1119.52 highs would probably confirm such a move.
GOLD12



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