The Gold might be at a good selling point because it is retesting the new upper boundary of the price channel and the recently broken weekly trendline. This area holds significant resistance as there is a Fibonacci level of 38.2 and a confluence of the 50, 100, and 200 moving averages for the hourly frame. If the price rises and breaks above the 100 (blue) and 200 (red) moving averages, this analysis becomes invalid.
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