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| Technical Analysis for Gold 7-7-2015 |
Gold moved yesterday in the average movement of 121 PIPs, its highest level at 1174.71 and the lowest price at 1162.74 and closed at 1168.84 to Lose 50 pips According to yesterday’s economic data.
Gold opened today's trading at 1170.11 volatile between 1166 and 1170 during the Asian session trading at 4 cents for the poor liquidity in the market range...
Gold moves in a series of down corrective waves above 61.8% fib
It is expected that the yellow metal is heading targeting 1161 as the target on time frame of four hours and till now we see the Bears control on market direction and the Bulls waits the first Support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today we could see sharp trading because of the economic data from USA
Support levels: 1162.81 and 1156.79 and 1150.84
Resistance levels: 1174.78 and 1180.73 and 1186.75
For More Technical Outlook FxStations
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