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Trend in Gold has turned higher for 1307/1345 area

BofA Merrill Lynch notes ....

  • The completed, intra-day impulsive advance from 1143 (Mar-17 low) says the trend has turned bullish. 

  • Now, its time to buy a dip. Pullbacks should not exceed the Mar-17 low at 1143. Upide targets are seen to 1307/1345 and potentially beyond. 

  • We will also look to buy a break above 2m channel resistance at 1189.75.

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