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Gold Technical Analysis: 200-D SMA lower, stochastics bearish with price below 20-50-D SMA crossover

 

  • Technically, bears remain in control with an impressive engulfing candle.
  • Stochastics stay bearish with plenty to go on the downside while the price trades below 1303 (a 50% Fibo) and the 21-D/50-D SMA cross over (1298).
  • A break of 1285 and then 1280 opens prospects for a run the downside target of 1275 (38.2% Fibo retracement of the Aug 2018-Feb swing lows and highs).
  • Below here, the 200-DMA will come into play, (1249/50% Fibo area). Bulls need a break of 1308 (61.8% Fibo) and trendline resistance to attract fresh bids in pursuit of Feb highs and 1350.

Wall Street rallies on stronger than expected earnings, DJIA flips better bid (up 270 points on the day)

Wall Street was sharply higher on Friday with investors cheering a strong set of bank earnings. JPMorgan's quarterly results for the Dow component wer
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Key headlines and weekend press stories

Here are a number of key stories from the weekend press: Mnuchin Says Trade Talks Near Final Round Brexit talks between Labour and Tories hit another
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