Gold price has corrected sharply to near $1,987.00 after a breakout move from the Symmetrical Triangle chart pattern formed on a two-hour scale. The precious metal is at a make-or-a-break level as a breakdown from this level would trigger further weakness in the Gold price.
The 100-period Exponential Moving Average (EMA) at $1,991.00 is providing a cushion to the Gold price.
Meanwhile, the Relative Strength Index (RSI) (14) is defending itself from shifting into the bearish range of 20.00-40.00.
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