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Wednesday, March 28, 2012

GOLD | Daily Range | 28.03.12


After losing its bullish momentum and failed to break resistance around 1694, gold flipped back to the downside. More consolidation would be seen today. As long as the price remains above 1648 (50% Fibonacci based on weekly range, see image on the left), then we're still on the bullish scenario. Otherwise, the bear will be back for the rest of the week.

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