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Gold Price Turning off of Resistance Zone

Gold Price Turning off of Resistance Zone

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Be aware of 1250 (50% retracement of decline from 2016 high) as a trouble area. Recent highs near 1219 should be watched for support.” Gold has turned down from a well-defined technical zone (1240/50). For more on gold, please check out the video from 2/8.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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