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GOLD Weekly Technical Analysis | December 13, 2014



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GOLD is near to key resistance area at 1240. It faced 21 EMA in weekly chart. It rejected from that moving average. If any bearish daily or H4 candle is formed at that level. then we can go for sell. Any rejection from that level can give sell signal for gold and target will be 1200 and then 1180 level. On the other side, If it can break this resistance, then it can start bullish momentum again. For buy entry above 1238 level, target will be 1255 area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1266

Resistance One (R1): 1244

Pivot Point: 1215

Support One (S1): 1193

Support Two (S2): 1164


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