2012-03-03

Gold price has fallen back below its crucial 150 DMA

The Gold price has fallen back below its crucial 150 DMA (now $1,714.56) with its $1,708.80 close today. Down beneath the 40 DMA at $1,685.45 ought to act as a safety net should it fall further. Weak as today was, odds remain with gold since it showed itself so strong this week. However, a close below $1,696 shatters that.

If this plays out as corrections usually do, gold will climb to about $1,750, then plunge once again, either to $1,696 or a little lower. That will take 3 weeks or more to play out.,

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