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Could gold face more than 10% downside if support breaks?
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ticker lesson
Breakdown
0:00Gold· ticker
Gold — 1.5% weekly decline, 50/50 on next move
- Gold down 1.5% weekly
- 50/50 on next move
- Fibonacci retracement at 4360
- 4265 is 61.8% retracement
- Triangle pattern forming
1:49Gold· ticker
Gold — support at 50-day MA, potential downside to 4100-3950
- Support at rising 50-day MA
- Not enough to stop decline
- Downside target 4100-3950
- Head and shoulders pattern possible
- Measured target past 4000 if pattern holds
1:50Gold· ticker
Gold — 200-day MA at 4550 as resistance
- Resistance at 200-day MA 4550
- 150-day MA also at 4550
- Potential for strong move one way or the other
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