The precious metal has aggressively reversed last week’s gains and is now testing some significant obstacles, including the 200-SMA on the 1-hour chart and the descending trend line - from above - which started back in March 2014. The yellow metal has returned back to the suggested rebound area of $1,190 - $1,205 and it surged above the critical level of $1,200 in early trading (https://www.fxstreet.com/analysis/daily-technical-analysis-and-forecasts/2016/02/15/02 ). We remain bullish on gold with the next target being the $1,214 and then the $1,234 barrier, before reaching $1,250.
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