SG highlight circa US$1875 on gold, target as high as US$1980 on a break

Société Générale technical outlook on gold, in brief:

• is marching towards a multi month descending trend line near $1,875
• A break above $1,875 would denote an extended rebound towards projections of $1,930 and graphical levels of $1,965/$1,980
• Daily MACD has entered positive territory which denotes upside momentum is regaining
• upper band of the base near $1,835 and $1,810 are short-term support levels

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November 15, 2021 at 01:02PM
Eamonn Sheridan
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