Monday, September 26, 2011

Gold Near Key Support

Last month I pointed out how Gold has a tendency to spike and then move sideways back toward the 200 day moving average.  After moving sideways for a bit gold has taken a big tumble, but in the context of the run it had before that point, there hasn't been too much damage to the chart from a technical standpoint.  A big test for gold is approaching though as the trend line that has held for almost 3 year is challenged.

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