Gold Technical Analysis – It’s an important day for gold bulls ...Middle East

Fundamental OverviewGold broke out of the consolidation and rallied into an important resistance around the 2700 level. In the bigger picture, the trend remains bullish amid the Fed’s easing cycle, but the short-term corrections will likely be triggered by the repricing in rate cuts expectations. Today might be one of those days as we have the US CPI report. Higher than expected figures will likely trigger another selloff, while lower than expected data should keep the precious metal supported into new highs.Gold Technical Analysis – Daily TimeframeOn the daily chart, we can see that gold broke out of the consolidation around the major trendline and rallied into the 2700 level. The buyers wi

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