Gold Looks Good for the Long Haul
Comex June gold futures prices have spent the past six weeks trading sideways in a choppy fashion on the daily bar chart. Prices are presently trapped between solid technical support at the April low of $1,613.00 an ounce and psychological resistance at the $1,700.00 level. The direction in which prices break out of the aforementioned trading range is likely to be the direction of the next significant near-term price trend for gold futures.
The gold market bulls are presently a bit worried because the price of their precious yellow metal has been sliding lower for the past two months -- namely, from the late-February high of $1,795.10 on the nearby June futures contract....285 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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