Here's a chart I whipped up on Stockcharts. It shows where I see support for gold.
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You can see that price support at $1,260 lines up closely with the 200-day moving average at $1,258. So we can expect support there.
But what I would prefer is for gold to pull back to deeper support at its uptrend. That might be a great platform for gold and miners to launch higher.
We'll see how it plays out. Good luck and good trades to you.
Sean
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