by Bill Downey     Price Analysis of Gold and Silver
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Technical Analysis Trading Gold, Trading Silver/ analysis By Bill Downey providing key turning points & charts for investors and speculators in Precious Metals Trading, and Precious Metals Markets

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Gold and the 2011 downtrend line

01 May 2017 2:57 PM | Bill Downey (Administrator)

GOLD

Medium term

We continue to favor our forecast from last year for a Dec 2015 or March 2016 low in gold remains valid. We were successful in calling the exact month (Dec 2015) as the gold low but now we want to see the 2011 downtrend line taken out. It’s the last downtrend line on the chart and until it gets taken out, gold can continue its pullback. We’d like to see two monthly closes above 1388 (the 2014 high) to put confidence that the next leg up in gold is underway.




Technical Analysis :: Gold & Silver

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