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Long positions in gold key action resistance 1256

COMEX2 gold futures on Wednesday (December 10) lower volatility in early trading in New York, gold futures hit a six-week high of 1238.90 overnight, then continued trading at the level below.

on the daily chart, COMEX gold futures closed up US $ 28.2 Tuesday, Dayang recorded lines, gold rebounded above 55-day moving average, but still living in a downward trend in the above key resistance at 1250.00-1255.00 area.

chief technology analyst Jim Wyckoff of Kitco said on Wednesday, "February gold futures hit six-week highs on Tuesday, gold prices upward to break through recent shocks, the bulls can get good action, which could mean that recent market bottom strongly, could be a critical market bottom has been formed. Gold bulls need breakthrough goal in the near future is close at key resistance October high above 1256.20. Short downward need breakthrough goal in the near future is a key technical level 1184.00. "

Wyckoff said," gold up initial resistance at 1239.00 mark, further resistance at 1250.00; down, preliminary support for gold attention to an overnight low of 1225.30, and further support at 1221.00. "

00:05 Beijing February Comex gold futures to $ 1229.70 an ounce, spot gold at $ 1229.00 an ounce.

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