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Gold Future Bear Tone Targets 1252/34

Published 11/12/2013, 05:17 AM
Updated 12/12/2023, 05:55 AM
GC
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  • A nudge lower Monday to reinforce the probing last week through interim props at 1300 and 1285/80 which maintains the bearish shift having pushed below a key 1309 prop to aim back towards the Oct low at 1252 into Nov
  • Interim support is now seen at 1268, but only through 1252 fully re-energizes more intense bearish pressures, through the 78.6% retrace target, 1234 towards basing supports at 1207 and 1179 into the 2nd half of Nov.
  • The 8-day RSI is negative, but not OS, leaving scope to go still lower this week.
  • WHAT CHANGES THIS?

    • Above 1326 eases bear risks; through 1362 signals a neutral tone, only shifting positive above 1375.

    Please see latest audio-visual analysis here:
    Daily Gold  Future

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