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Gold is approching the upper limit of its medium term bearish channel in 1672 and is expected to decline. However, in case these levels are passed through, the significant potential will be revealed resulting in the beginning of the bullish trend.
Technical indicators do not provide clear signals but as the resistance level remains unbroken, the assumption of a decline is relevant. Bollinger bands have greatly tightened in recent days showing a decline in volatility and the imminence of a violent movement.
