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    Technical analysis of Gold for April 6, 2016 2016-04-06

    Gold bulls tried to push the price higher yesterday but the price still remains inside the bearish channel and the most probable outcome remains a move towards $1,190 before a bigger bounce.


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    Blue area - support

    Yellow area - resistance

    Gold got rejected by the 4-hour Kumo (cloud) resistance and is turning lower early today. The price remains below the cloud and inside the downward sloping channel. The trend remains bearish. Support is at $1,215 and resistance at $1,232 for the short-term.


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