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GOLD Analysis 31 March 2015

A_GOLD_H1

 

What we have told yesterday in this article happened. Today we have the same view in GOLD which is down. As you see in the chart, GOLD is an important level to supoort. 1181 is the major palce for GOLD to decide which way to go. For us, down trend will continue after GOLD makes a retracement up to 1186 levels. At that time target will be 1172.

The long term down trend still continues and the short term began to support this trend already. Traders who want to be in BUY position should wait for GOLD to get over 1195 first. After that we can talk about 1225 again but current view is GOLD will get down to 1172 levels.

Plase trade safe and don’t forget to use SL.

Also read these articles before trading

 

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