Markets

Gold a Snoozer Near Term; Trying to Bottom Medium Term?

Weekly

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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Commodity Analysis : No change - "Gold didn't quite trade to new lows but silver did last week. Non-confirmations (divergences) of price extremes between related assets often mark market turns or at least the beginning of a reversal pattern. Gold's low was also at a downward sloping trend channel. Recent chop could be the beginning of gold forming a bullish base. Chalk the weekly key reversal up as bullish evidence."

Commodity Trading Strategy : Flat

LEVELS: 1307 1322 1354 1420 1439 1470

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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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Commodities