Wednesday, April 26, 2017

Will Gold find support at $1260 or lower? Chart!

Here's a chart I whipped up on Stockcharts. It shows where I see support for gold.

Visit StockCharts.com to see more great charts.

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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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