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Gold - Approaching the key support at 1181
Gold has broken the support at 1209 and is now approaching the key support at 1181. Hourly resistances stand at 1210 (intraday high) and 1227 (intraday high). In the longer term, we continue to view the rise from 1181 (28/06/2013 low) as a counter-trend move within an underlying bearish trend. Therefore we favour a minimum move towards the key support at 1181. A first key resistance is given by the medium-term declining channel (around 1305). Another key support stands at 1045 (05/02/2010 low)
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timos
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