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Gold Supported By July Low, Weaker Dollar

Discussion in 'Technical Analysis' started by Kaitlin, Dec 10, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    Persistent instability of the Greenback's value and positive Chinese inflation numbers are creating demand for gold on Wednesday, following a rise we have already observed on Tuesday. Technical support is provided by July low at 1,070 and weekly pivot point at 1,073. The nearest resistance is 20-day SMA at 1,078.[​IMG]

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