19 Nov 2012 18:50 EST
By eFXnews.com
Spot Gold break of 1718 confirms a near term base and resumption
higher, targeting the year long range highs at 1788/1803, says Bank of
America Merrill Lynch.
"Pullbacks against 1718 should be seen as a buying opportunity for
these range highs, potentially beyond. Indeed, a sustained break of
1788/1803 clears the way for the 1921 Sep'11 highs and beyond," BofA
adds.
In line with this technical view, BofA has a buy limit order for Spot
Gold at 1718, with a protective stop at 1704, and an initial target of
1803.
http://www.efxnews.com/story/15882/bofa-merrill-has-limit-order-buy-gold-1718-targeting-1803
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