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| Technical Analysis for Gold 15-7-2015 |
Gold moved yesterday in the average movement of 67 PIPs, its highest level at 1159.65 and the lowest price at 1152.82 and closed at 1154.87 to Lose 26 pips According to yesterday’s economic data.
Gold opened today's trading at 1154.84 volatile between 1153 and 1156 during the Asian session trading at 3 dollars for the poor liquidity in the market range.
Gold moves in a series of down corrective waves below 78.6% fibo
It is expected that the yellow metal is heading targeting 1147 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 12:30 we are looking for PPI m/m USA.
Today we could see sharp trading because of the economic data from USA
Support levels: 1151.91 and 1148.95 and 1145.08
Resistance levels: 1158.74 and 1162.61 and 1165.57
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