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FX.co ★ GOLD Technical Correction, April 20, 2011 (Daily Strategy)

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Forex Analysis:::2011-04-20T14:48:00

GOLD Technical Correction, April 20, 2011 (Daily Strategy)

GOLD Technical Correction, April 20, 2011 (Daily Strategy)

GOLD

Today, gold has made ​​a maximum in 1503 dollars per ounce its maximum recorded so far, We think that gold will even still some way to go maybe to 1700 or up to 2000 dollars a troy ounce, now there is much uncertainty in the market gold is becoming the favorite to find refuges and to diversify into other investments.

If we look at our chart, can see that gold has been an upward trend, the secondary trend line, is overbought, so expect a potential correction, A close in 4 hours candle below the price of $ 1500.00
it would be an indication to sell to the weekly Pivot line around 1460.00

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