Gold is threatening the bottom of the range since Sept as prices fall 1%

Technical Analysis

Author: Adam Button | gold

Big test underway in gold

Big test underway in gold
You don't need to be John J Murphy to understand the importance of this support level in gold.

It's fallen about $6 since the bottom of the hour, perhaps on the soft claims data, but more likely on flows. The precise low in Sept was $1848.80 and that held earlier this month.

A break is going to trip some stops with $1800 as the first destination.

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