It seems the metal is consolidating within a wedge, the two trendlines of which are converging to a point. A strong move could develop early next week, after the end of the consolidation.
A rise above $7,330 will confirm the extension of the uptrend that developed from the Sept. 13 low of $7,024, while a fall below $7,140 will signal the development of a downtrend towards this low.
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