Gold Spot price (GOLDS-1,395.15, see Figure 19) retreated only toward
1,287 before establishing a rally that was eventually able to penetrate
the declining 50-day MA as well as the short-term downtrend from the May
rally to establish a higher low and the push through 1,345, which set
in place the first higher high since September 2012, establishing the
first uptrend.
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