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Main Support At 1055.00 Prevents Gold From Declining

Published 12/16/2015, 05:55 AM
Updated 07/09/2023, 06:31 AM
XAU/USD
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GC
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The main support at 1055.00 remains stable and prevents gold from declining, while the metal started to trade again above 113% Fibonacci at 1062.00, which is a bullish signal.

Gold Daily Chart

Trading above moving averages in addition to the negativity on ADX and RSI moving below 50.00 make a contradiction between signals.

Hence, we will be neutral today unless the metal breaches 1078.00, as that will affirm starting a new upside wave.

Support: : 1055.00 – 1050.00 – 1045.00

Resistance:: 1078.00 – 1090.00 – 1101.00

Direction: Neutral, but bullish above 1078.00

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