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Gold Prices January 20, 2017, Technical Analysis

By:
Christopher Lewis
Updated: Jan 20, 2017, 02:25 UTC

Gold markets fell again on Thursday, as we are trying to break down below the $1200 handle. If we can close below there at the end of the session, it

Gold daily chart, January 20, 2016

Gold markets fell again on Thursday, as we are trying to break down below the $1200 handle. If we can close below there at the end of the session, it should signal that we are going to go lower. We have formed a bit of a negative turn around at the 38.2% Fibonacci retracement, so I believe a given enough time we will go lower. Pay attention to the US dollar, because it of course works against the value of gold over the longer term. Ultimately, I believe volatility will be a mainstay of this market.

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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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