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Gold Price Key Reversal at 200 Day Average; Watch 1236

Gold Price Key Reversal at 200 Day Average; Watch 1236

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Key Reversal at 200 Day Average; Watch 1236

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Gold continues to trade around 1350 (Brexit low) and I’d continue to pay attention to the 61.8% of the drop from the 2016 high and 2 equal legs up from December cluster at 1277/79. However, a key reversal formed on Monday and high is right at the 200 day average. Trendline support is near 1236.

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

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