Gold Price Breakout; Trouble Starts at 1187
Chart Prepared by Jamie Saettele, CMT
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-“Gold has rallied from a 9 year trendline. 1150-1175 is a big test for this rally.”
-“Resistance influenced near 1150. Watch for support now at 1107.25.” Support came in just below 1107.25 (low was 1104.50) and price has broken resistance and the push above resistance on the daily indicates an important behavior change. Look towards 1187-1207.
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