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11/16/2015 2:17:28 AM

Gold rises affected by positive formation – Technical Analysis – 16-11-2015



Gold price rose recently affected by breaching a falling wedge pattern’s resistance formed previously and appears on the above chart, accompanied by breaching the moving average 50, besides positive signals that come by stochastic.

Therefore, we expect more rise for gold in the coming period, targeting 1106.00 level as a main target of the mentioned pattern.


Target
Risk


Support
Resistance


Trend Bullish

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