Markets

Gold Could Collapse from Near Current Levels

Hourly

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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Commodity Analysis : No change - " Gold 's rally reversed gains after running into former lows and channel resistance. Gold's advance is better than silver's, which remains extremely depressed. Daily RSI on the metal has recovered to 60, a common area for the indicator to stop in a bear market."

Commodity Trading Strategy : Short, stop 1350, targets 1283 and 1250

LEVELS: 1267 1282 1309 1332 1350 1395

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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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