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Gold: Vulnerable Below The 1263/79 Zone

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    GOLD: With GOLD closing higher the past week (see weekly chart), further strength is expected. However, while it trades below the 1263.00/1279.00 resistance zone, risk of a move lower is likely. On the downside, support comes in at the 1250.00 level where a break will turn attention to the 1240.00 level. Further down, a cut through here will open the door for a move lower towards the 1230.00 level. Below here if seen could trigger further downside pressure targeting the 1220.00 level.

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