Here’s a nice 24-hour chart to follow the spot gold market with.
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Source: www.money-tigers.com
SPOT GOLD PRICES BACK TO SIDEWAYS TREND
COMMENTARY: Thursday, August 26, 20:43 PST
Spot Gold price rates pulled back into their sideways range after just nipping at the breakout price point to the upside.
It actually has given a weak SELL signal in the process, so, spot gold prices are positioned better to go down than up at the moment.
Option expiration is coming when large moves tend to take place. So, prepare for some movement in that regard.
I’d move the upside breakout indicator to $1243 and the downside to $1232 to allow some room for volatility within the sideways range and looking for some further confirmation on the downward side. – George
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