Strong Headwinds Ahead for Gold!

I envision reasons to be ‘extremely’ cautious within the short-term (approximately, 5 to 15 days). Gold is now close to its’ resistance, which will make further ‘upside’ progress very difficult to achieve, at this point.  It is now registering its’ sixth week in ‘overbought territory’.  Finally, coming from an ‘overbought’ area, any ‘rolling over’ to the downside may prove to be significant.

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