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Publish Date28/12/2012 11:14:28 AM

Last Update

U.S. Session

Gold retreated slightly ahead of the U.S. session,  after testing 1665.00 resistance level for the third time and failing to break it, a move back below the minor ascending trend line shown on the four-hour chart above could be a catalyst for further decline. Accordingly, our previous scenario remains valid for the rest of the day.

The trading range for today is expected among the key support at 1630.00 and key resistance now at 1675.00

The short term trend is to the upside targeting 1945.00 per ounce as far as areas of 1520.00 remain intact with a weekly closing. 

Previous Report
Weekly Report
RecommendationBased on the charts and explanations above, we recommend selling gold around 1665.00 targeting 1650,1646.00 and 1635.00. Stop loss above 1677.00


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