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Technical analysis of gold for 6 October 2017

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Technical analysis of gold for 6 October  2017 Empty Technical analysis of gold for 6 October 2017

Post  Admin on Fri Oct 06, 2017 9:48 am

Gold price is trading near its lows just above $1,266. Trend remains bearish. Price however has reached important daily and Fibo support. I expect Gold price to make a full scale reversal to the upside today.

Gold price is below the Ichimoku cloud, making lower lows and lower highs. Price is at new lows but both RSI indicators continue to provide bullish divergence signs. I expect Gold price to reverse today and break resistance of $1,274 and at least test $1,288-90.


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