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GOLD – Technical Analysis

Gold prices remain near two-year lows, and are forming a symmetrical triangle on the weekly chart. Gold plummeted to a low of $1,321 on April 16, from which the lower line of the triangle begins. This is the lowest level since the beginning of 2011. After a slight rebound in early June, gold is heading lower again, trading below resistance at the 55-day moving average at $1,380. It is expected...

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June 12, 2013 @ 1:07 pm

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Gold

Gold has been hovering near lows reached on Friday at $1,419, which is the 23.6% Fibonacci of the move from the October 2010 high down to the low of April 16. The bias is on the downside as gold remains below the 55 day and 200-day moving average on the Daily chart. A stronger US dollar has been weighing on the precious metal. Supports are at $1429 and $1421, resistance $1445 and...

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May 14, 2013 @ 3:02 pm

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Commodities – Gold

Gold is falling due to dollar strength. The demand for USD has lessened the appeal for the safe haven precious metal. Gold prices only reached the 23.6 percent of the Fibonacci retracement measured from September 2011 highs. Gold‘s decline has subsequently accelerated and has breached below the key level of $1,450 on Friday. Support is at $1418 is at $1395 and $1388, resistance at...

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May 10, 2013 @ 3:19 pm

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