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  • GOLD - Weekly Report



    By icn.com

    Short Term trend: Sideways
    Intraday Bias: Neutral

    Gold erased most of earlier gains, to retreat and re-settle below the 50-days SMA, fluctuating around the 50-days SMA hints the sideways bias. This type of movement forces us to remain neutral with the start of the week, looking for further clarification on the direction of the next move.

    ** 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 and Resistance levels should be treated as regions not precise numbers
    Support 1318.00 1305.00 1290.00 1280.00 1273.00
    Resistance 1334.00 1345.00 1352.00 1358.00 1368.00
    Recommendation Neutral


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