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Gold Uptrend Gains Momentum

Published 03/12/2014, 11:16 AM
Updated 07/09/2023, 06:31 AM

Gold has broken above major resistance near $1360 this morning after a healthy 2-week consolidation between $1320 and $1355:

Gold

The strength of the current uptrend is even more impressive on the weekly timeframe and shows all the signs of a strong trend that is only gaining in momentum:

Gold's Relative Strength

Price is now equidistant from major resistance at $1425 and major support at $1300 – which will come first? $1425 or $1300?

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