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| Technical Analysis for Gold |
Gold moved yesterday in the average movement of 136 PIPs, its highest level at 1156.67 and the lowest price at 1143.11 and closed at 1147.78 to Lose 71 pips According to yesterday’s economic data.
Gold opened today's trading at 1147.35 volatile between 1145 and 1149 during the Asian session trading at 4 dollars for the poor liquidity in the market range.
Gold moves in a series of down corrective waves above the lower price at 7 months
The gold achieved our target at 1147
It is expected that the yellow metal is heading targeting 1141 as the target on time frame of four hours and till now we see the Bears control on market direction and the Bulls waits the first Support Level to enter the market
And the Relative Strength Indicator "RSI" show us distribution operations at the market
Today at 14:00 we are looking for Philly Fed Manufacturing Index USA.
Today we could see sharp trading because of the economic data from USA
Support levels: 1141.70 and 1135.62 and 1128.14
Resistance levels: 1155.26 and 1162.74 and 1168.82
For More Technical Outlook FxStations
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