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Gold support at 1258 but rolled over 15m

Market Analysis

XAUUSD, M15                      

Gold remains bullish having posted at high over 1265 yesterday. My bias remains long and I entered again at 1258 last night. However, the intraday M15 has broken support at 1258.70 and triggered a short with a target of 1257.90 which is a little less than the 14 period ATR short term resistance and stop loss sits at 1259.75.

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Stuart Cowell

Senior Market Analyst

HotForex

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