Major moving averages and Fibonacci retracements are filling into create significant support for Gold at $1800. If Gold holds this level over the next few months then it keeps the 2019 playbook alive. In that scenario, Gold can breakout in 2023.
However, in the scenario that Gold falls below $1800, then it would take more time for Gold to mount a move to a breakout. Falling below $1800 and underperforming the stock market could preclude a breakout this year.
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