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Technical Analysis Gold 09-09-2016

Technical Analysis Gold

After rising to a three-week high on Tuesday, Gold has been drifting lower and is now trading in negative territory for third consecutive day. Gold broke the 100h EMA and this will rush some sellers to step in. While stochastic continues to provide oversold signals on the four hours’ time frame, which support the chances of bouncing bullishly to resume the main bullish trend, which its targets begin by breaching 1353.00 level.

 

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