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Daily analysis of Gold for December 16, 2016

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Overview

Gold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. The metal is heading for the upward targets like $1,154.75 and later $1,172.68. Therefore, we are waiting for more bullish bias today on the assumption of the price stability above $1,124.88. Breaking this level will bring in negativity that will push the price down to $1,047.61 as a next main station. The expected trading range for today is between 1120.00 support and 1154.75 resistance.

The material has been provided by InstaForex Company – www.instaforex.com

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Daily analysis of Gold for December 16, 2016 Reviewed by on . OverviewGold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. Th OverviewGold has been trading with an upward bias since morning to move away from $1,124.88, which supports our bullish trend expectations in the short term. Th Rating:
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