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Gold define new risk around 1437 for 1393

As per 240 minutes chart of Gold comex fut it has recently formed a break below the support line of the rising channel  and now gold has define a new risk level around 1437 for short sellers trader can take short position on rise around 1425-28 zones for a nearest target around 1393 a failure below 1393 can invite more sellers and price may move towards 1360 and 1392.30 is 380% Retracement level of this swing that is started from 1307.60 on January 28, 2011 to a high of 1445 on March 07, 2011. 

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Anonymous said…
great work on the chart....positional view of urs always minted huge money......
March 11, 2011 at 5:01 AM
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