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From : Commodities Daily Hotline: 27 March 2015
Chart of the day: Late-Feb high halts Gold's rally

 

In Thursday's hotline, it was pointed out that Gold was extending its recovery past the 50-day moving average, though there was further resistance nearby from the late-February high at 1223.  The 'thin upper tail' on the last candlestick shows that the yellow metal went on to encounter intraday resistance at the daily high, at 1219.5.  The price is continuing to retrace in the out of hours session, where the contract was changing hands at 1198.2 a short while ago.  A quick jump past the late-February barrier is required to remove the risk of further easing back towards the floor near 1140.






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