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Crude Oil, Gold Prices May Fall on Hawkish Fed Chair Powell

GOLD TECHNICAL ANALYSIS

Gold prices continue to cling to rising trend line support set from mid-December, now at 1329.55. Breaking below this barrier on a daily closing basis exposes the 1312.36-16.50 area (38.2% Fib retracement, support shelf). Alternatively, push above the 38.2% Fibonacci expansionat 1356.23 targets the 1366.06-71.50 zone (January 25 high, 50% expansion).

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