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Gold Bounces from 50 day Average

Daily Bars

Prepared by Jamie Saettele

"Gold made an outside week last week which (along with divergence with RSI on the weekly) warns of distribution and a potential top." Price has now reached its 50 day average but a break of long term trendline support is needed in order to suggest that an important top has formed. The trendline is at 1353 this week. 1418 is resistance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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