Gold has broken the minor descending resistance to settle back - TopicsExpress

Gold has broken the minor descending resistance to settle back above 1235.00 level, and that favors further upside over intraday basis. However, a break above 1269.00 key resistance area is needed to suggest a more prolonged bullish correction. 1232.00 is the key pivot for today, as holding back below it may re-establish the bearish momentum. Support: 1236.00; 1228.00; 1220.00; 1208.00; 1200.00 Resistance: 1260.00; 1270.00; 1290.00; 1300.00; 1308.00 Recommendation: Based on analysis and explanations above, we prefer to long gold above 1237.00 targeting 1250.00 and 1269.00. Stop loss below 1229.00

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