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Gold Price – Hold or Fold Level

Gold Price – Hold or Fold Level

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“The weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) and 1264 line up as levels to pay attention to from a tactical standpoint.” The proposed support is being tested now. Failure to hold here would shift focus to the next horizontal level near 1240.

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

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