Gold Bounces from 50 day Average
Prepared by Jamie Saettele
“Gold made an outside week last week which (along with divergence with RSI on the weekly) warns of distribution and a potential top.” Price has now reached its 50 day average but a break of long term trendline support is needed in order to suggest that an important top has formed. The trendline is at 1353 this week. 1418 is resistance.
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