Gold markets have rallied a bit during the trading session on Thursday to break above the $1775 level, and it looks as if we are going to try to get towards the $1800 level.
Above there we have the 200 day EMA at the $1808 level, and of course the 50 day EMA is starting to reach towards it to form a “death cross” as well. In other words, this is an area that I think will offer a lot of significant resistance, especially as there is a major gap just above there. If we do break above the moving averages and go into the gap, we could look towards the $1875 level.
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