Chart of The Day $Gold 11-11-2016

On the Gold daily chart we can see that the instrument is below 200 SMA (blue line) indicating a short term downtrend continuation. Strong support for the downside is 1300-1310 zone. First resistance for extended downside is 1250 followed by 1220 level.Invalidation of this short term downtrend only in case of a break and close above 1320.

Happy trading! (click on the chart to enlarge it)



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