The Gold steadied below $1200 per ounce on Friday and was set to end a two-week rally as the dollar remained strong on expectations that the U.S. Federal Reserve will raise its interest rates on the next year.
But some buying interest from Asia may support the Gold to remain high despite rising of equity markets.
The Gold rose slightly toward $1213.65 per ounce and we trying to break above the kijun-Sen level and now remain trading around $1200 per ounce,), which confirms our expectations the Gold will make a significant upward correction toward $1214, $1223, then $1238 confirmed by the formation of the Bullish Harami Pattern on the H4 chart which may push the prices high to trade above the Kijun-Sen indicator .
However, if the Gold break below the $1187 level, this will represent a strong bearish signal, and
the prices are expected to decline toward $1168,$1154,and $1140 per ounce.
| Resistance 2|| Resistance 1||Current Prices||Support 1||Support 2|
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