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Gold: Dropped After Failing To Stabilize

Published 10/23/2014, 03:46 AM
Updated 07/09/2023, 06:31 AM

Gold Daily Chart

Gold dropped yesterday after failing to stabilize above 1252.65 the day before, but this downside move remained limited above 38.2% correction at 1236.15 and above Linear Regression Indicators. Linear Regression Indicators are trading positively and RSI is moving in a bullish bias above line 50. MACD is also trading positively supporting the possibility of bringing positivity back.

Only a break below 1236.15 weaknes the positivity intraday today, and trading above it will lead to breaching 1252.65 to push the price to upside towards 61.8% correction at 1269.15.

.Support Resistance & Recommendation

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