Bounced off yesterday lows
The price of gold moved lower test the low from yesterday at $1625.22. The low today reached just below that level at $1624.98. The price got a push higher on the Nassau County headlines, but is stalling near the 100 hour MA at $1646.79. The price has traded above and below that MA over the last hour or so. We currently trading right at that level (give or take $1).
On a move above there is a trend line at $1652.93. Get above and it another step in the upward direction.
On the downside, the 38.2% at $1635.16 will be eyed. Move below, could see buyers flip around to more aggressive selling with the double bottom at $1625 eyed.
