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Gold technical analysis for January 5, 2016

6 January 2016, 10:33
Lahcene Ouled Moussa
Lahcene Ouled Moussa
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  • The gold price made a breakout above the short-term triangle pattern yesterday, but buyers were not strong enough to push the price towards $ 1,100. There is a high probability that gold is in a corrective phase since there is no clear upward impulsive moves seen. This implies that a new low towards $ 1,000 should come once this correction ends.