Gold Weekly Technical Outlook

Gold's fall was contained above 1097.7 support and rebounded strongly. Focus is back on 1169.8 resistance. Firm break there will have the near term falling trend line firmly taken out. And the should indicate trend reversal and bring stronger rise to 1232.0 resistance and above. Meanwhile, break of 1097.7 will turn focus back to 1072.3 low instead.

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