Gold eyes $1311 - Reuters Technicals
|Reuters technical report says gold is heading to $1311 courtesy of small double top pattern and drop below a key Fib level.
Key quotes
Gold has pierced twice below a support at $1,329, the 76.4 percent retracement. The next support could be at $1,311.
The double-top forming around $1,341 has been confirmed, as its neckline was broken. The pattern suggests a further drop.
Strategically, the target at $1,311 will be confirmed when the metal drops below $1,323.
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