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Spot Gold is at the back foot, awaiting ECB decision

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 10, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GOLD Spot Gold remains at the back foot and keeps focus at the downside, after bounce from fresh low at 1242 stalled at 1258, late yesterday. Bearish setup of near-term studies and Bearish Divergence on daily RSI / MACD, maintain downside pressure, as reversed daily Slow Stochastic continues to travel south and shows more room at the downside. Gold may extend pullback from 1279/77 double-top, to next strong support at 1235 (mid-point of 1190/1279 rally, reinforced by sideways-moving 20SMA and

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