Technical Analysis

Gold extends losses into the close. What’s next

Support nearby

Gold is near the lows of the week as it slumps $12 to $1487.

The two levels to watch early next week are $1484 and $1479 early next week. Those are the recent lows and a break would target $1450.

I’m a gold bull but discretion is the better part of valor and better news on trade and a less-dovish Fed could lead to a quick move lower. I think that would be the time to buy or add.

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