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Commodity Technical Outlook On GOLD

From fxtechstrategy.com

GOLD: Remains Weak And Vulnerable. GOLD: While GOLD may still be biased to the upside above the 1,273.80/1,268.39 levels, it continues to face downside risk. This leaves the commodity vulnerable to the downside towards the 1,273.80 level where a breach will set the stage for a run at the 1,268.39 level. Further down, a turn below the mentioned support will target the 1,250.00 level followed by the 1,230.00 level. Its daily RSI is bearish and pointing lower supporting this view. Conversely, resistance comes in at the 1,299.40 level where a break if seen will set the stage for a run at the 1,315.48 level. A violation ... (full story)

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