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GOLD – Market analysis 02.11.2020

Short term - BULLISH

Medium term – BEARISH

Long term - BULLISH

Gold is currently trading within a falling wedge pattern on the H4 chart and it is still likely to continue to trade within this wedge for the next 2 weeks or so.

Currently Gold seems to be rallying to towards $1900 and it reaches that level is should start falling towards the level of 1797.

However, once it reaches 1797, it should then start to rally aggressively from that point on and it should break outside the wedge to the upside and it should continue its upward move to $1930 and to $2000 and to $2030 consecutively.

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