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Gold Markets Testing Major Support Level

From dailyforex.com

Gold markets have fallen rather hard during the trading session after initially filling the downward gap on Thursday. As we reached towards the $1750 level, the market is likely to see a significant break down at that point in time. If we were to break down below the $1750 region, the market then opens up a potential move down to the $1680 level. That of course is a major area of support in the past, so it will attract a lot of attention by traders out there watching this market. If we were to break down below the $1680 level, it is very likely that the gold markets will fall apart at that point. I would anticipate a ... (full story)

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  • Category: Technical Analysis