January 4, 2013

Channel of GOLD

 
  • Gold Bears violating 100 Week SMA. Bears need a weekly close below 100 Week SMA to take price below 1600.
  • Price is also near the base of weekly cloud. If cloud gives support Bulls may try to move up again.
  • Last chart shows a channel in daily chart. Channel support line is also trying to stop a bigger fall from happening. 
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