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3/13/2017 2:22:12 AM

Gold - Technical Analysis: Monday, 13/03/2017 06:22 GMT



Gold price is testing the resistance line that pushes the price to the downside since the recently recorded top at 1263.87, and the exponential moving average 100 puts negative pressure on the price, while RSI reaches the overbought areas, which keeps the chances valid to continue the bearish trend, which its next target located at 1180.00.

Note that surpassing 1217.00 and settling above it will stop the expected decline and lead the price to turn back to achieve gains again, and the first positive target is located at 1248.00.


Target
Risk


Support
Resistance


Trend Bearish

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