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3 Mar 2015
Gold set to base – BAML
FXStreet (Barcelona) - MacNeil Curry, Technical Strategist at BofA-Merrill Lynch, maintains a medium-term bullish outlook on Gold, expecting the precious metal to see $1345 and even $1433 before the long-term bear-trend emerges.
Key Quotes
“We remain medium term gold bulls, targeting 1345 (Jul'14 high) and potentially as far as 1433 (Aug'13 high) before the long-term bear trend emerges.”
“Now, preliminary evidence says that that Feb-23 low at 1191 may have marked the end month long correction and a resumption of the choppy.”
“An impulsive break of 1236 would confirm, targeting the 1307, Jan-22 high ahead of 1345 and eventually beyond.”
“Below 1169 is need to warn of trouble, while a break of 1132 is needed to invalidate the bullish view.”
Key Quotes
“We remain medium term gold bulls, targeting 1345 (Jul'14 high) and potentially as far as 1433 (Aug'13 high) before the long-term bear trend emerges.”
“Now, preliminary evidence says that that Feb-23 low at 1191 may have marked the end month long correction and a resumption of the choppy.”
“An impulsive break of 1236 would confirm, targeting the 1307, Jan-22 high ahead of 1345 and eventually beyond.”
“Below 1169 is need to warn of trouble, while a break of 1132 is needed to invalidate the bullish view.”