March 1, 2017

  • Gold 4 hour chart shows price testing 100 Period SMA. Bullish candle at the current levels can lead to a reversal.
  • As the second chart shows price is staying below crucial support lines. Gold bulls need to get back above these lines to avoid bigger correction.
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  • Crucial support for Gold at the 100 Period SMA. Closing below this line may extend the weakness seen in this time frame.
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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore