Gold hit more drop with testing support level

Gold hit more drop with testing support level

Rami
24 (11) 2016 - 13:04 (GMT)
0

The Precious Metal managed to fell below support (1200) before FOMC Minutes yesterday as market anticipate more odds for Fed rate hike next month.

After market fell below (1200) gold managed to head toward second support & target zone (1180-83) as previous report advised (see here).

Gold facing now middle resistance level at (1193) where as long as market holding below more drop pressure will sustain over market to head for another test to (1180-83) , while below this zone another drop wave may hit market toward (1150) zone.

Above (1193) market may add more bonus toward (1200-05) zone

GOLD

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Rami

Rami

Hi all, my name is Rami, with more than 16 years experience in Forex Market, switching from Brokerage field to Fund Management and Risk Management specialty.I had an idea to establish a Home Page to present my thoughts on Forex Market from three different angle or prospective, Mid-Run, Short-Run & Intraday movements .

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