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Strong Resistance Confluence Restricts Gold Up-Move

Discussion in 'Technical Analysis' started by Kaitlin, Oct 16, 2015.

  1. Kaitlin

    Kaitlin Forum Member

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    On Wednesday, the Gold prices closed above its 200-day SMA for the first time since May and marked the highest level in nearly four months on Thursday; however, resistance confluence of three month old ascending trend-channel and 50% Fibo of its January – July decline, near $1192-93, restricted its further[​IMG]

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