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Gold analysis Wednesday 19 April 2017

Gold analysis Wednesday 19 April 2017

 

The dollar weakness and the geopolitical fears made the gold rise and close near its highest levels in 5 months which was recorded last Monday. The gold found support from the situation with Korea and the waves of war with the US.

Also, the market still fears the French elections

Yesterday the buildings permit rose a little and recorded 1.26 M when the forecast was 1.25 and the previous reading was 1.22

There are no important data for today in the US

Technically

If the gold stays above 1286 it may rise to 1301 and then 1315

In contrast if it falls down of 1286 it may fall to 1264 and then the 200 SMA at 1256 and then the 50 SMA at 1242     

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