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Gold Inclines Sharply, Tests Resistance Levels Of 1172.00

Published 03/19/2015, 05:58 AM
Updated 07/09/2023, 06:31 AM

Gold 4-Hour Chart

Gold has inclined sharply re-testing areas above the initial resistance levels of 1172.00 and we see some kind of corrective actions now. We classify the current correction as a profit-taking action, which could extend to 1161.00 support. The daily chart interprets the solid bullish momentum that the metal gained and thus, we will be bullish today; noting that, the market shows huge volatility, so that, the distance between trading levels and stop loss could be big somewhat and that requires discipline risk management.

Gold Support Resistance & Recommendation

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