Feb 5, 2013
Gold trading at $1674.71
The price of gold approached the upside boundary of its near-term range at 1682, following yesterday’s rally from the levels close to the range floor that cracked the triangle resistance at 1686. However, according to Slobodan Drvenica an analyst at Windsor Brokers Ltd., “Sideways movements within 1657 and 1682 illustrate a neutral near-term tone, with break of either side required to establish fresh direction.”
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