Chart of the Day: Gold is Pushing $2,000

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Gold has consolidated for more than two years, and now it may be inching toward a breakout.

The first pattern on today’s weekly chart is the rally in October between roughly $1,812 and $2,000. That move broke a falling trendline from the summer when bond yields were climbing.

XAUUSD then pulled back to bounce above the trendline, turning old resistance into new support. Also notice how …

For more, please click here to view the related idea and chart analysis on TradingView.

Gold, weekly chart, with selected patterns and indicators, courtesy of TradingView.
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