Price action on spot gold, a daily chart of which is shown, has made a significant bullish move in breaking out above the key 1130 price region, establishing a new 6-week high. This occurs within the context of a long-term uptrend. Despite a false breakdown of the longstanding uptrend support line in early February, gold has gone on to respect the trendline in late February, leading to the current bullishness. For more technical analysis on gold,
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