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6/8/2015 2:53:34 AM

Gold - Technical Analysis: Monday, 08/06/2015 06:53 GMT



The short term bullish trend line was broken, and the price moves inside a bearish channel that appears on chart.

The exponential moving averages 50 and 100 form negative pressure that support the expected decline, and stochastic reach to the overbought areas reinforce the expectations of witnessing negative trading in the upcoming period.


Target
Risk


Support
Resistance


Trend Bearish

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