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3/1/2016 3:00:26 AM

Gold keeps steaming higher - Technical Analysis - 01-03-2016



Gold prices jumped higher in the intraday levels, and also today in the Asian session, succeeding in breaching the important resistance of 1,238.50, with ongoing positive support from the SMA for the last 50 days period, with an influx of positive signals from relative power indicators like the Stochastic as shown below the attached chart, with the overall dominance of the upward trend in the medium and short terms.

Therefore we expect more gains to come for the precious metal, targeting the pivotal support of 1,268.30.


Target
Risk


Support
Resistance


Trend Bullish

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