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    Technical analysis of Gold for April 10, 2015

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    Technical outlook and chart setups:

    Gold is looking to resume rally towards $1,267.00 , after having made higher lows at $1,192.00 yesterday. The metal has formed a bullish morning star candlestick pattern on the 4 hour chart setups and is likely to teste yesterdays lows as well. It is hence to remain long with risk at $1,170.00. Immediate support is seen at $1,178.00 followed by $1,162.00, $1,143.00, and lower, while resistance is seen at $1,223.00 (interim), followed by $1,250.00, $1,285.00, and higher respectively.

    Trading recommendations:

    Remain long for now, stop at $1,170.00, target is open.

    Good luck!

    Uitgevoerd door, Analytische expert
    InstaForex Group © 2007-2015

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