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Gold Price Finally Realizes it’s at Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Gold is finally starting to come off. The metal has been at resistance (1250) for 7 days. Watch 1219 for support. The 200 day average is clearly important here and a push through the average would indicate promise. Short term focus would shift to 1278 (61.8% retracement from 2016 decline).