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Gold Jumps to One-Week High as SPX 500 Chart Setup Warns of Pullback

From dailyfx.com

US DOLLAR TECHNICAL ANALYSIS – Prices may be carving out a near-term top after forming a bearish Evening Star candlestick pattern. A daily close below the 14.6% Fibonacci retracementat 10618 exposes the 23.6% level at 10591. Alternatively, a reversal above the 14.6% Fib expansion at 10657 opens the door for a challenge of the 23.6% threshold at 10683. S&P 500 TECHNICAL ANALYSIS – Prices put in a bearish Hanging Man candlestick below resistance at 2006.80, the 61.8% Fibonacci expansion, hinting a downswing may be ahead. Near-term support is in the 1985.30-91.40 area, marked by the July 24 high and the 50% level, with ... (full story)

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