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19.06.2014 05:47 AM
Technical analysis of Gold for June 19, 2014
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 Technical outlook and chart setups:

1. Gold is seen to be re-testing the trend line resistance around the $1,278.00/80.00 levels for now. A break here and subsequently $1,300.00 would be extremely bullish for the metal. Recommendations for now is to remain short, risk remains at $1,300.00.

2. Support is seen at $1,240.00, followed by $1,230.00, $1,210.00 and lower, while resistance is around $1,285.00, followed by $1,300.00, $1,310.00 and higher respectively.

3. The structure indicates that Gold should remain bearish till prices stay below $1,300.00 levels.

Trading recommendations:

Remain short, stop at $1,300.00, target is open.

Good luck!


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