Commodity Trade Mantra

Posts Tagged ‘Down Trendline’

Can The Price Of Gold Break Above This Key Level?

The post-2011 Down trendline looks to be the line to focus on at the moment in determining the direction of the price of gold & should serve as stiff resistance for the time being, absent a Simone Biles-like vault over the line. The good news is that the GLD has already twice tested the trendline, in early July and early August. These tests should have served to weaken the trendline somewhat.

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