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Gold Prices February 23, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Feb 23, 2017, 05:14 UTC

Gold markets went back and forth during the day, forming a choppy candle for the day. The market looks as if it should continue to go higher, and I

Gold daily chart, February 23, 2017

Gold markets went back and forth during the day, forming a choppy candle for the day. The market looks as if it should continue to go higher, and I believe that the 100-day exponential moving average underneath is support. I have no interest in shorting, I believe that the 100-day moving average will not only be supportive, but the $1200 level below will be supportive as well. Given enough time, the market will then reach towards the $1300 level as far as I can see. This is a market that has turned things around lately, and I believe that the longer-term uptrend continues.

Gold Price Forecast Video 23.2.17

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About the Author

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.

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