Gold Near Key Support

Last month I pointed out how Gold has a tendency to spike and then move sideways back toward the 200 day moving average.  After moving sideways for a bit gold has taken a big tumble, but in the context of the run it had before that point, there hasn’t been too much damage to the chart from a technical standpoint.  A big test for gold is approaching though as the trend line that has held for almost 3 year is challenged.

Leave a Reply

Your email address will not be published. Required fields are marked *