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  • GOLD - Weekly Report



    By icn.com

    Short Term trend: Sideways
    Intraday Bias: Neutral

    Gold has retested the descending resistance for the bearish wave from 1433.00 high, which meets the 50-days SMA around 1350.00 level, where price should break above this resistance area to confirm further upside for the week. Accordingly, the bias remains neutral until a breakout of this range materializes.

    ** 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 1335.00 1330.00 1317.00 1313.00 1305.00
    Resistance 1344.00 1352.00 1358.00 1368.00 1375.00
    Recommendation Neutral


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