Gold Pressured from Trendline and 20 Day Average
Prepared by Jamie Saettele, CMT
“Price is testing a long term trendline that extends off of the 2008, 2010, and December 2011 lows. A break of such a well-defined trendline would signal a significant shift. The downside is favored below the April high of 1683.35. Exceeding the April high would shift focus to pivots throughout March (1696.88, 1716.55, 1726.05).”
Bottom Line (next 5 days) – lower?
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