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The price of gold has managed to hit our expected target at 1727.00 and is attempting to break down resistance from the descending channel, which provides some indication on the direction of the price for more potential gains in the coming sessions, but we need to get a daily close above the aforementioned level. to confirm the continuation of the rise and set the stage for the trend towards 1765.00.
On the other hand, we stress that failure to complete the breach will put the price under negative pressure, with its targets starting at 1,692.00.
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