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Gold – 200-DMA could be breached

TVC:GOLD   GOLD (US$/OZ)
Gold’s rebound from $1250 levels in Asian session today when viewed in light of Friday’s bullish price RSI divergence on the 4-hr chart suggests the metal is likely to target 200-DMA stationed at $1263 levels and may even breach it for a further rally to $1270 levels.

On the lower side, only a break below $1240 would signal resumption of the sell-off from late September highs.
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