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Gold Reaches Bearish Pattern's Upper Boundary Again

Discussion in 'Technical Analysis' started by Kaitlin, Oct 7, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    As expected the precious metal surged above the 100-day SMA and 61.8% Fibonacci retracement of the Aug-Sep downtrend on Tuesday. It was actively supported by the 50% retracement and was therefore able to register substantial positive change in value. While bulls are set to aim at the monthly R1 (1,147)[​IMG]

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