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Gold May Face Test at 1243

Hourly

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. 1243 is interim resistance. 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.

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

LEVELS: 1180 1208 1223 1243 1267 1295

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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