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Gold above 1180/oz

Gold above 1180/oz

Gold XAUUSD is trading again in positive territory today for ninth session in the last eleven. US Dollar retracement was seen benefiting dollar-denominated commodities. The price is trading above the 50h MA and above the 100h MA supporting the bullish scenario. MACD and momentum indicators are bullish. First resistance is near the 1192 area the 61.8% Fibo retracement level of the mid-November – mid-December range and next in 1200 psychological mark.

 

 

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