Gold Price at 9 Month Trendline Support
Markets

Gold Price at 9 Month Trendline Support

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Gold has been in a state of indecision since July. Each rally has failed at the trendline and each high has been lower than the prior high. This may need to resolve with a drop towards the low 1960s before broader strength can resume. If price closes above 1355 , then action since July can be interpreted as a bullish wedge. Until that close is registered, risk remains for weakness towards the low 1260s.

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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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