Gold bulls dig heels at $2,640, jobs data could pump for $2,665?
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Gold shows stability above $2,640.
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Jobs report awaited for further clues.
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Next resistance sits at $2,655 & $2,665.
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Local demand sits at $2,632 & $2,620.
Gold seems to have formed a local demand base at $2620 and currently broke above $2650.
Breakout and stability above $2632-$2635 is a positive signal that eases the path to further gains that initially targets retest of $2655.
If the metal finds enough acceptance above $2655, bulls are likely to extend upside towards next leg higher $2665 followed by $2675.
On the flip side, break below $2635-$2632 will call for further retracement towards $2624 followed by next support zone $2615-$2609.
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