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Gold: Key Support Area Placed At 1,265/63

Discussion in 'Technical Analysis' started by Kaitlin, May 12, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Despite large-scaled rally of gold futures on Wednesday, the bullion is being pushed back to the downside in the early morning of Thursday. Technically, a decline below the 1,263.87 marked is unlikely, as this level is backed from above by the 20-day SMA, monthly pivot point and weekly S1. Still,[​IMG]

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