Gold Price Tags 200 Day Average from Above
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Gold Price Tags 200 Day Average from Above

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Chart Prepared by Jamie Saettele, CMT

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-"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 gold support did not hold so focus is on the next horizontal level near 1240.

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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.

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