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    Gold technical analysis for February 5, 2016 2016-02-05

    Gold price moved even higher yesterday approaching our weekly target at $1,150. A trend remains bullish. The price has reached important weekly resistance and a rejection at current levels is very possible, so bulls should be very cautious.


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    Gold price has finally reached the weekly Ichimoku cloud resistance. For a long time we have been bullish on gold amid the signs and resistance levels which have been broken one by one were. Now it is time to be cautious as we have reached important resistance levels.

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