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Gold Near Term Objective Zone is 1295-1319

By: DailyFX
Posted: 7/9/2013 7:17:00 PM
Referenced Stocks:

4Hour

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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Commodity Analysis : " Gold 's rally from the June low is impulsive and the decline from 1267 is corrective. That information is reason enough to be bullish for a move above 1267. A move through the high opens up 1295 (2 equal legs from the low) and 1319 (161.8%). Friday's FX Technical weekly provides additional details." 1223 is now support.

Commodity Trading Strategy : Triggered long last week at 1215…stop moved up to 1208.

LEVELS: 1180 1208 1223 1267 1295 1319

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