Gold To Trade On Sideways Consolidation

Published 07/26/2013, 07:01 AM
Updated 05/14/2017, 06:45 AM
GC
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Gold retreated quickly to settle back above 1313.00 support level, and rebounded to acquire our upside target at 1338.00. Accordingly, the bullish wave is still intact, which requires 1300.00 area to remain a floor for trading. For today, we may see a period of sideways consolidation below 1340.00 key resistance.
Gold
Support: 1322.00, 1310.00, 1300.00, 1294.00, 1285.00
Resistance: 1338.00, 1350.00, 1360.00, 1365.00, 1375.00

Recommendation Long gold above 1313.00 targets at 1338.00,1365.00, and 1390.00. Invalidation below 1300.00

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