Yes, the ball is still in play if the it hits the goal post as the post is not considered to be 'out'.
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No, if it did hit the ring you would be able to shoot again but if you didn't hit the ring, its just like throwing the ball and catching it again (:
:)
no tou cannot, it would be considered contact and the opposition would get a free pass.
You shouldn't get blown for it, but i would make the pass look accidental, to make sure. Be carefull as the ball could easily miss the post, or get intercepted to cause a turnover.