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STO Technical - Gold poised for 200 day MA?

XAU/USD may be coming off the year to date highs struck earlier in the month but we are finding repeated support around $1220, the 38.2% retracement of the July-December 2016 sell off. Look for resistance around the 50% retracement of $1250 then the 200 day Moving Average, currently $1263.

The FTSE-100 found support at the end of January close to the 38.2% retracement of the Trump election driven rally. Look for this to hold in the medium term around 7085, with resistance likely to be seen at January highs of 7354.

STO Review

Thursday, 16 Feb, 2017 / 1:42

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