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July 15, 2012

Gold biased to the downside below trendline resistance

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While GOLD continues to hold below its medium term trendline, our outlook remains lower. This leaves risk towards the 1,527.05 level where a violation will resume its broader medium term weakness and then pave the way for further declines towards the 1,500.00 level. Price hesitation could occur here... FF News: Technical

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