Sasha Singh
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Gold : Is it a Rebound or Just a Little Move?

(XAUUSD : 4 Hour Chart)

Gold declined reaching 18 week lows as a result of recent releases of upbeat US data fading its demand.On the 4 hour chart it was consolidating within a descending triangle ahead of the US data signaling that the pair will continue to follow downtrend. I thought it will show some movement after the US economic release today but it did not and just moved a little breaking the resistance trend line. Although a breakout signals that the pair might reverse the current downtrend but there is still no confirmation. On the Stochastic Oscillator the %K line is below the %D line Showing that at least for short the prices are going to rise.