Gold Price Still Contending with 2011-2012 Trendline
Chart Prepared by Jamie Saettele, CMT
-The latest gold comments noted that “strength through the 2011-2012 trendline would be a major development but gold is showing signs of failure at the 2011-2012 line…bigger support is still lower (mid-1280s).” Gold continues to struggle near the 2011-2012 trendline. As such, respect potential for downside into the mentioned 1280s.
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