Gold 200 day Average for first time since April 2009
Prepared by Jamie Saettele, CMT
Gold continues to decline and the rest of the world is finally noticing. As such, we could get bounces but I maintain that the larger trend is down and rallies should be sold. Resistance comes in from 1600 to 1625. It’s a matter of time until the September low is broken and weakness accelerates towards 2010 resistance in the mid 1400s.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.