Gold prices are on course for the worst 2-week drop since early July and retail traders continue boosting upside bets. Will XAU/USD continue lower from here?
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On the daily chart, gold has confirmed a breakout under the midpoint of the Fibonacci retracement level of 1848.37. This followed a push under near-term rising support from February and a bearish Death Cross between the 50- and 200-day moving averages. Now, immediate support appears to be the February low of 1804.78.
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