November 18, 2016

GOLD Weekly support and Hourly charts

  • Weekly chart shows strong support zone near 1200 levels (1190 -1200)
  • Hour chart shows 100 Hour SMA as resistance line. Recent attempt to stay above it has failed. Gold bulls must sustain above this line for a bigger bounce to happen.
  • Targets for the day or resistance levels are 1221 and if price stay above this level 1232 is possible.

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