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GOLD Technical Analysis (12-16 January 2015) | January 10, 2015



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GOLD has touched the upper line of triangle. After pin bar on daily chart, it started bullish rally. It is now facing little resistance at 1224 area. Next important resistance lies on 1238-1240 area. It can be good selling area. On this level, if we see bearish or any rejection candle, then we can go for sell. For sell entry, target will be 1205 and then next target will be 1180 area.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1255

Resistance One (R1): 1239

Pivot Point: 1207

Support One (S1): 1191

Support Two (S2): 1159


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