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Gold daily chart

  • The yellow metal corrected part of the slide of the last weeks this Wednesday but found strong  resistance at the 1,280.00 level.

Gold 4-hour chart

 

  • Gold is trading below its main SMAs suggesting a bearish bias in the medium-term.

 
Gold 30-minute chart

  • Gold is trading above its main SMAs suggesting a bullish correction in the short-term.
  • Bulls will defend 1,270.00 level  while bears will try to break below it to reach 1,260.00 and 1,247.00 support to the downside.  
  • Key resistance is at 1,280.00 and then at 1,290.00 figure.


Additional key levels