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Gold's deep decline from 1191.7 argues that rebound from 1072.3 might be completed already. And, firstly, it was rejected by 55 weeks EMA. Secondly, it lost momentum before hitting 100% projection of 1072.3 to 1169.8 from 1103.8 at 1201.3. Both suggest that such rebound from 1072.3 is merely a correction. Bias is now back on the downside for 1103.8 support. Break will likely send gold through 1072.3 low to resume the larger down trend.


from Oil N' Gold Focus http://www.oilngold.com/ong-focus/technical/gold-weekly-technical-outlook-2015110231647/
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