Gold Lower Channel Line of Interest Eventually
Chart Prepared by Jamie Saettele, CMT
-There is still MAJOR long term support just below here for gold but the year open (magenta line) sure did a number on the yellow metal. Since the 2011 top, gold has sold off every year into the end of the year (probably a result of selling for tax reasons). After the last several weeks, there’s no reason to suspect that 2015 will be any different. Focus is on the lower channel line.
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