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( Kitco News ) – See on the daily bar chart for December Comex gold futures that Monday’s big losses have pushed the yellow metal back into the bottom portion of the recent sideways trading range – after prices hit a seven-week high overnight. Importantly, no significant chart damage has been inflicted on the daily or the longer-term charts. However, bulls need to defend strong technical support at the September low of $1,851.00. A drop below that price level would inflicted serious near-term chart damage to suggest a new leg down in prices.
Here’s a postulation for the gold market bulls to ponder: This vaccine news is short-term negative for gold, no doubt. However, could it be that […]
November 10, 2020 (updated November 10, 2020) Published by StockMan