The sharp upside rally in the precious metal from $1200 to a
high of $1295.28 per ounce (marginally surpassing our second projected target
level of $1283 per ounce) has since reduced its momentum as the oscillator
indicator on the daily chart indicates trading at overbought territory.
We expect a corrective wave to begin at this level to 1263
where the impulse wave is expected to resume towards $1301
Happy Trading Day
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