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Gold Trades Near 1260

Published 03/18/2016, 06:44 AM
Updated 07/09/2023, 06:31 AM

Gold trades near 1260.00 and the contradiction between ADX and RSI persists, while the major positive outlook remains available with stable move above 1235.00 and above 1250.00.

Gold Chart

We prefer to stand aside to see whether the pair will stabilize above 1260.00 or it will correct according to RSI readings. Risk versus reward is inappropriate.

Support: 1255.00 – 1250.00 – 1245.00

Resistance: 1270.00 – 1281.00 – 1293.00

Direction: Bullish, but we will avoid trading.

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