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Technical Analysis of GOLD July 13, 2017

In H4 chart, Gold is moving towards its first resistance level 1225.98 but just below this level there is a trend line formed by two of the high volume candles. Just around the first resistance level, there is another resistance by linear weighted moving average of 50 periods. In a bigger timeframe trend of gold is down. So, an attempt to short the Gold can be made around 1223 for at least $5 move. In other case, long the position above 1227 for the first target of 1231.

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