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Gold Price Showing a Little Something at 1200 Support

Gold Price Showing a Little Something at 1200 Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The 2011-2012 trendline was resistance after the election and the metal has reached a level that could provide support for another leg higher. The level in question is the intersection of slope and the May low (1200). Initial resistance on a pop is probably near 1240.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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