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  • GOLD - Weekly Report



    By icn.com

    Short Term trend: Bullish
    Intraday Bias: Bullish

    Gold dipped sharply with the start of the week, recording and intraday low at 1373.00, before bouncing back higher quickly above 1389.00 support, forming a bullish hammer four-hour candle. The rebound suggests demand remains strong, while the overall short-term bullish trend remains intact. Accordingly, the bullish scenario is favored this week.

    ** Short term Trend (Trends that last from two weeks to two months)
    ** Chart is based on GMT+2 timing

    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 1390.00 1375.00 1368.00 1358.00 1353.00
    Resistance 1405.00 1413.00 1418.00 1423.00 1430.00
    Recommendation Long above 1384.00, targets at 1400.00 and 1425.00. Invalidation below 1370.00


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