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Gold: Buying Opportunity at 1323/22

Published 09/26/2016, 01:38 AM
Updated 07/09/2023, 06:31 AM

Gold Weekly Chart

Gold first support at 1336/35 but below here look for much better support at 1331/30. A break below 1326 however meets an excellent buying opportunity at 1323/22. Longs need stops below 1318.

Holding first support at 1335/36 keeps bulls in control for a retest of minor resistance at 1342/43. Further gains meet important trend line resistance at 1349/50. This is the most important resistance of the week. Try shorts with stops above 1353. A break & close above 1351 however is a buy signal & targets 1358 then 1363/64 this week.

Latest comments

Great article I have similar numbers. Nice to see I am not alone in my thoughts.
Thank you Clinton. Good luck!!
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