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Monday, October 10, 2011

Gold - Testing resistance

Gold is sitting at resistance near 1,675. We might break above this resistance, but be careful, as we face stronger short term resistance just above at 1,691, which could easily turn prices down again and leave us with a failure break above 1,675.

However a break above 1,691 will open up the upside for a new run towards the 1,919 area and head us higher towards the next target at the 2,053 area.

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