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Gold's Bulls Are Penetrating Two-Month Downtrend

Discussion in 'Technical Analysis' started by Kaitlin, Jan 5, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    Risk-averse sentiment among market participants made the precious metal increasingly buoyant on Monday. After piercing through the Nov-Dec downtrend line, gold approached a vital resistance in face of the weekly R2, monthly R1, upper Bollinger band and 55-day SMA at 1,084. However, the daily close was fixed around 1,075 and[​IMG]

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