Cycle trading: Is gold ready to begin a trending move?
|Gold had been contained by the 1750 resistance level for the prior 11 weeks. Gold is in position to close above 1750 resistance level on a weekly basis. A close above this resistance level is necessary for a trending move to develop. Currently, gold is in a weekly uptrend. Gold will remain in its weekly uptrend unless it closes below the lower weekly cycle band.
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