Gold Panic Decline Stalls at Averages / Former Resistance
Prepared by Jamie Saettele, CMT
Gold plunged last week (last Wednesday) after failing ahead of the November high. The market has stabilized just above the 50 day average and former January resistance. I’ve no confidence in the larger pattern but will note that gold has traded in roughly a $300 range since September (if you must trade gold, then play the range).
Bottom Line – no idea
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