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Gold Updates by "Solid ECN"
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[QUOTE="Solid ECN, post: 206490, member: 83167"] [HEADING=1][JUSTIFY]Gold, Fibonacci levels analysis[/JUSTIFY][/HEADING] [JUSTIFY][B]Daily overview[/B] On the daily chart, the price continues to test 1921 (correction 50.0%), and the consolidation below it allows a decline to 1890 (correction 61.8%), 1850 (the area of January highs). However, an ascending fan may prevent negative dynamics. The key "bullish" level is 1951 (correction 38.2%), supported by the middle line of Bollinger bands. Its breakout will give the prospect of further growth to 1990 (correction 23.6%), 2050 (correction 0.0%). Technical indicators do not give a single signal: Bollinger bands are horizontal, Stochastic reverses upwards, but the MACD histogram decreases in the negative zone. [/JUSTIFY] [ATTACH type="full"]20859[/ATTACH] [JUSTIFY][B]Weekly overview[/B] On the weekly chart, the price tested 2033 (correction 0.0%) but is now correcting downwards. A break of 1890 (38.2% ascending fan line) further declines to 1835 (23.6% correction, middle line of Bollinger Bands). Otherwise, the quotes will be able to return to 1990 (upper line of Bollinger bands), 2033. Technical indicators do not give a single signal: Bollinger bands are directed upwards, Stochastic is directed downwards, and the MACD histogram increases in the positive zone. [B]Resistance levels[/B]: 1951, 1990, 2050 | [B]Support levels[/B]: 1921, 1890, 1835[/JUSTIFY] [ATTACH type="full"]20860[/ATTACH] [/QUOTE]
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