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Gold: Negative Outlook Below 1,104/08

Discussion in 'Technical Analysis' started by Kaitlin, Jan 22, 2016.

  1. Kaitlin

    Kaitlin Forum Member

    Aug 29, 2015
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    Near-term outlook for gold is moderately bearish. We see the formidable resistance zone ahead of the bullion, represented by 100-day SMA and Jan 8-20 downtrend at 1,104/08. Any close above here should trigger a rally, but the bulls are likely to struggle at 1,126/32 (monthly R3/200-day SMA). On the bearish[​IMG]

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