Gold did a double take at 1240 before resistance pushed the price lower subsequently and below the 104 hourly average. A likely inversed head and shoulder formation may occur if 1231 price region forms support yet again. Targets to hold for the buy : 1240, 1245, 1251. A failure to hold at 1240 will likely push price towards 1227-1225
17 Sept 2014 XAU/USD Gold Analysis
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