Gold Prices Forecast March 26, 2014, Technical Analysis – FX Empire
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Gold markets tried to rally during the session on Tuesday, but found enough resistance at the $1320 level to turn things back around and form a shooting star. We had suggested yesterday that the breaking of that level to the downside by the market was enough to send gold lower, and we still stand by that statement. We believe that the next major support area is going to be at the $1280 level, thereby making it a decent short-term target. Ultimately though, we do believe the gold goes higher, and would be interested in buying a supportive candle below as well.
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Gold Prices Forecast March 26, 2014, Technical Analysis – FX Empire