GOLD: XAUUSD Testing Bull case to the limits now,butnot dead yet

Gold has had a bad day and is now testing bull patience to the very limits. It has to regain 1240 quickly now. If it can't manage it and hold up there the technical picture will deteriorate rapidly, and once below 1234 trigger further liduidation of long positions back to 1201, where it becomes a short buy again. Contrarians will be thinking about buying here with a tight stop, as per comment

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must apologise for embarrassing typos. It's late