Gold May Be Heading Lower

Despite risk sentiment taking a big hit, price of Gold has been unable to rally above 1475. For the past four days this week, price tried three times to move above this resistance but failed.

Stochastic is now declining, hinting of an impending price decline. MACD is weak and could be turning bearish below the zero line. These are pointing to price going lower to test the previous low of 1456 again.

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