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3/15/2017 5:09:32 AM

Gold - Technical Analysis: Wednesday, 15/03/2017 09:09 GMT



Gold price placed higher than last week's low yesterday, to show bullish bias that indicates that the price seeks stopping the negative pressure and turn back to the bullish trend again, approaching from testing important resistance at 1205.60, surpassing this level will confirm the continuation of rising in the coming period.

Thus, we expect the domination of the bullish trend on the coming trades, and surpassing 1217.00 level will provide more support to the rising expectations, the main targets will reach 1255.00, while breaking 1194.70 represents negative factor that will push the price to resume the decline on the short term basis.


Target
Risk


Support
Resistance


Trend Bullish

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