Gold Price Outlook: New Support at Old Resistance
In our last article, we looked at the vigorous top-side price action being seen in Gold while the US Dollar melted down as a 2015 rate hike was getting priced further and further into the future (now it�s looking more like March-June 2016 for that first rate hike). As mentioned, traders should exercise caution as the five consecutive days of run higher had left near-term price action divorced from any nearby swing-lows; making it very difficult to line up risk management levels for bullish positions.
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