Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-"Bottom line, gold is at support (1228) from a median line confluence. This is an important level and if gold is going to work higher then it should do so now. Failure to hold up here would delay any bullish action until the next support, probably near 1177."
-Gold needs to exceed 1245 to negate the breakdown implications (to 1177).
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2 Comment for "Gold News | Gold Possible Support at 1198; Above 1245 Needed to Be Bullish | Gold Daily Forecast"
Gold prices gained boosted mainly by the dollar's weakness and Greece's uncertain future in the euro zone.
Gold dropped on signs that Greek banks will continue to get emergency funding despite a breakdown in debt talks, Talks between Greece and euro zone finance ministers over the country's debt crisis broke down on Monday.