Gold at Trendline Resistance
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.” Currently testing trendline resistance, this bounce offers a chance to short against the April high.
Bottom Line (next 5 days) – topping?
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