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Gold Analysis 16 April , 2015

Gold markets rose during the course of the day on Wednesday, breaking above the $1200 level during the American session. With that being the case, we feel that the market is probably heading to the $1220 level, which has been the top of the consolidation area for some time. Because of this, we believe that the market will ultimately paying around in this consolidation in the short-term, but may eventually break out to the upside. If we get that move, we would hang onto any long we would be involved in at the moment. However, we recognize that the market will continue to be very choppy.

Gold Chart

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Source : fxempire

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