Gold: Short-Term & Long-Term Targets |
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Gold has reached its short-term target for shorts, 879.14 (161.8% Fibonacci extension, based upon a 50% retracement). It is slowly creeping back up, but what happens next at 888.96 and 904.85 resistance levels is key. Much also depends upon the news reports coming out of the US all this week, and which direction they take the Dollar. If the US news continues to be negative, gold may well have found a bottom for now and may resume its upward movement. If the news is positive,
Filed under: Futures
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