Gold could fall to $1,300, as the yellow metal established a bearish lower high-lower low with a close below $1,321 yesterday.
Daily chart
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The bearish lower high-lower low is backed by a negative crossover of the 5- and 10-day moving averages (MAs) and RSI’s break below the support line. So, $1,300 could be put to test in the next week or so.
On the higher side, a close above $1,332 is needed to abort the bearish outlook.
Trend: Bearish
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