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Gold Breaks Up, Extends Bull Run

The Spot Gold market shot higher today as it broke out from the inside bars that we discussed in yesterday's commentary. The market had been trending higher recently and then inside bars formed just below resistance near $1,344.00 before today's breakout. Often, the market will build up momentum like this just below a level of support or resistance and then form an inside bar or inside bars just before it breaks out and extends the recent trend. Traders can look for buy signals in this market on any retraces back down to support.

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