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Bearish consolidation.
(Yann Quelenn )
• Gold is consolidating lower. Hourly support is
given at 1251 (08/08/2017 low). Stronger support
lies at 1204 (10/07/2017 high). The commodity is
heading towards resistance given at 1296
(06/06/2017 high). Expected to show renewed
buying pressures.
• In the long-term, the technical structure
suggests that there is a growing upside
momentum. A break of 1392 (17/03/2014) is
necessary ton confirm it, A major support can be
found at 1045 (05/02/2010 low)
