Gold: Second Retest at Top of Range

The gold has been consolidating downwards since the price has jumped over the top of the range at 1280.

It has taken 2 waves of downwards movement and the price had two successful retests at the breakout level 1280.

Therefore, we are expecting the price to rise from here as it embarks on its second wave of an uptrend and face strong resistance at 1294 (see chart).

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