Gold keeps above 200 day MA and 50% retracement

Author: Greg Michalowski | Category: News

Little reaction so far after US withdrawal from Iran nuclear deal

The price of gold has been bottoming against the 50% of the move up from the December 2018 low at $1301 and the 200 day MA at $1305. The low today reached $1306. The low last week reached $1301.79.  


The price is currently trading around the $1315.40 level - off those key support levels.  

Risk for the buyers is a break below the $1301-05 area.  Stay above keeps the dip buyers in the game.

A move higher from here has the 100 day MA at $1325 as the key upside target to get to, and through.