Gold – Bearish breakout of the key support at 1626

Gold has broken to the downside out of its horizontal range between 1626 (04/01/2013 low) and 1695 (02/01/2013 high). The implied downside risk is 1560. An hourly resistance can be found at 1626 (broken support acting as a resistance). A key resistance is at 1654. A next support lies at 1590 (…

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Gold – Bearish breakout of the key support at 1626

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