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22 Apr 2015
Gold at a key junction, top side of a triangle pattern – Varengold
FXStreet (Barcelona) - The Varengold Bank Research Team uses 4H charts to give the technical outlook and key upside and downside targets for XAU/USD.
Key Quotes
“Technically gold is, at the moment, in the top side of a triangle pattern. If the price breaks the pattern below, the projection could drop the price to 1147, coinciding with an important support. Before that, 1175 is also a support to take into consideration.”
“On the other hand, if the price breaks the top side of the pattern, the projection could go to 1247, once beat the 1223 resistance.”
Key Quotes
“Technically gold is, at the moment, in the top side of a triangle pattern. If the price breaks the pattern below, the projection could drop the price to 1147, coinciding with an important support. Before that, 1175 is also a support to take into consideration.”
“On the other hand, if the price breaks the top side of the pattern, the projection could go to 1247, once beat the 1223 resistance.”