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GOLD Outlook: Formed Bearish Engulfing | December 28, 2016



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Gold has formed bearish engulfing pattern on h4 time frame. 1144 level is resistance level for gold. Price failed to break that level. Big rejection candle is giving bearish idea on gold. Below 1144 level, gold will remain on sell mode.

Main trend of gold is still on bearish. So intraday bias for gold is bearish. For sell, first target will be 1130 level. 1126 is near term support for gold.


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