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Farooq

Technical Analysis – GOLD _ 20-02-2019

HomeTechnical AnalysisTechnical Analysis – GOLD _ 20-02-2019
20
Feb
Technical Analysis – GOLD _ 20-02-2019

Gold completed its rise during the morning session to touch its second target at 1345 resistance … The price may need a bearish correction to gather enough momentum due to the bullish saturation signals indicated by the momentum indicators on the daily time frame before heading towards its main target and the third that is at the resistance of 1365.

A close of at least four hours below the ascending slope line shown on the daily chart might be enough to end the bullish scenario and the price could then head to test support 1276 as first target and then support 1250 as a second target.


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