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Gold: Faces Recovery Risk With Eyes On 1088 Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Dec 14, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD: With the commodity taking back more than half of its losses to close slightly higher the past week, GOLD faces recovery risk with eyes on 1088 zone in the new week (see daily chart). This view remains valid as long as it holds and trades above its key support zone at 1046/52 zone. On the downside, support comes in at the 1064.00 level where a break will turn attention to the 1050.00 level. Further down, a cut through here will open the door for a move lower towards the 1040.00 level.

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