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Gold correcting on the day but key support below

Discussion in 'Technical Analysis' started by ForexLive, Aug 3, 2016.

  1. ForexLive

    ForexLive Forum Member

    Sep 2, 2015
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    The 1350 area is key for the gold going forward Gold is moving lower in trading today and in the process have tested a support area at the 1355 area. This is where highs from July 29 and August 1st are located. The low has come in around the 1354.29 level today. Another key support level is at 1351. The 100 hour MA nd trend line support on the hourly chart cut across at this level (see chart below).

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