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Investments in financial products are subject to market risk. Some financial products, such as currency exchange, are highly speculative and any investment should only be done with risk capital. Prices rise and fall and past performance is no assurance of future performance. This website is an information site only.

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Technical analysis for Gold for November 2, 2018

Gold price moved higher yesterday above $1,230. This is a bullish sign. Together with the bullish signs we showed yesterday in our analysis, Gold is ready to break out above $1,240 towards $1,260.

analytics5bdb7b2e3bc1b.png

Magenta rectangle -support area

Gold price bounced off critical support and took back in one session what was lost in three. Wednesday's lows are very important now. Major support at $1,212. Breaking below it cancels any bullish scenario for Gold. We remain bullish expecting $1,260.

The material has been provided by InstaForex Company - www.instaforex.com