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Gold near term on HTF has turned bearish, the enormous bull rally requires some repositioning. After some unwinding we would expect to see Gold continue to print higher and seek re-entries for med term Buy-side.

However, as the LTF have been relatively bearish the last week with YVWAP testing VWAP. PSAR turned bearish. WKLY TF has tested the 5EMA and rejected that level for now. Headed down to intraday technicals short term bounce has formed. 240 TF has a major upswing Fibonacci with a C retrace not yet confirmed.

A Fib subswing is in play. PSAR has been bearish all week on the 240TF. MKT has found strong SUPP at both 3212 and 3202. And is now forming a base off former RES 3232. Nr term upside RES 3271 and 3276. MACD has entered into oversold territory.As of 22.00 EST USA.

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