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Gold Attempts Move Higher

Published 07/27/2015, 05:23 AM
Updated 07/09/2023, 06:31 AM

Positively influenced by stability above 1086.00 and above main support line, gold attempts to move higher despite being covered by moving averages.

Gold Daily Chart

ADX remains negative, but we can use the defensive level of 1086.00 to be bullish over intraday basis and a break above 1117.00 will extend the wave, while failure to clear it will trigger downside movement.

Support: 1100.00 – 1086.00 – 1075.00

Resistance: 1110.00 – 1117.50 – 1130.00

Direction: Upside correction

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