GOLD POTENTIAL RALLY
Gold retested a key level at 1280 last week and closed at 1298. It completed the pattern and should move back up above 1300 this week. I believe a strong momentum upwards should bring the price to the first take profit zone at 1320 which falls on the .618 fib. The second take profit is 1340, near the last high. If the strong upward momentum continues and the dollar gets weaker, it should test a key level around 1360 (weekly resistance).
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