November 15, 2014

GOLD technicals in USD

Long term trend of GOLD is down but there is possibility of a short term bottom being formed.
Weekly charts (USD) - support at 2013 and 2014 low broken but strong buying seen. Sustaining above 1200 can lead to a rally to 1350-1400 levels.

Two consecutive hammers on weekly charts have bullish implication.

Daily charts (USD) - buy signal here. SL 1140. 

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