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  • GOLD - Weekly Report



    Short Term trend: Downside
    Weekly Bias: Bullish

    Gold rebounded strongly on Friday, to form a long lower shadow hammer candlestick pattern at 1300.00 support, and thus closed the trading session back above this key support at 1300.00, and that keeps the bullish correctional wave and outlook intact for this week.

    ** Short term (Less than three months)
    ** Chart is based on GMT+2 timing
    Notes:
    *if price reaches within 20% from target before triggering entry, signal is canceled and not valid anymore.
    Support 1308.00 1300.00 1294.00 1285.00 1275.00
    Resistance 1318.00 1323.00 1338.00 1345.00 1360.00
    Recommendation Long above 1300.00,targets at 1325.00, 1338.00 and 1360.00. Invalidation below 1283.00


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