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Gold technical analysis: Summer 2016 highs in the 1370s in sight

2019-06-19 06:55


  • Gold fell $10 shy of the Jan and April highs overnight that came in at around 1365.

  • A run through there will open the summer 2016 highs in the 1370s ahead of the Sep 2013 highs in the 1435s.

  • In a change of tide, 1338 and 1346 guard the 1320 level ahead of 1311.

  • Below there, 1303/06 will open 1297.

  • 1297 level meets the 50% Fibo retracement of the late April and early May double-bottom swing lows to recent spike high.  

  • The 200-week moving average comes in at 1250s.

This article is published only for general use basic informatory purposes and should not be considered or depended on as a financial or investment advice. Investors should make sure that they understand the risks and seek independent financial advice at all times. CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE.

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