Cycle Trading: Gold update
|We will begin tonight with a look at gold’s chart from 12/22/20.
Back on 12/22 we noted that gold ran into resistance at the declining intermediate trend line and then lost the 50 day MA.
Since then gold has found support at the rising 10 day MA and has regained the 50 day MA. Gold needs to break above the declining intermediate trend line in order to confirm that November 30 the was the ICL which should result in a trending move
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