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Gold Approaching Resistance

5/11/2021

Comments

 
If you are considering trading or trading metals I would take a cautious approach. I suspect the rally in metals could be halted for a few weeks by some resistance at the intermediate cycle trend line and the 200 day moving average which are converging now near the 1855-1860 area.  This looks to be an obvious place for a contract dump to occur.  The Commodity Channel Index is ready to produce a sell signal and conditions are at overbought levels. 
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  • Home
  • Speculation
  • The Pit
  • Resources
    • Futures Contract Specs
    • Tools
    • Terminology
    • Past Trade Performance
    • Crop Overview >
      • Corn
      • Soybeans
      • Wheat
      • Supply/Demand Factors
    • About
  • Disclaimer