Yesterday, I posted a chart of gold showing a trend line of best fit.
This chart below needs no lines to be added.
It shows that since the blow-off low in 2009, the 200 day mov ave has offered strong support.
The level of that support is 1617 currently, and so far gold had a low of 1622 and is now at 1631.
We may have just seen the low if the trend is to continue.
I have previously shown the chart with a straight line of support (suggesting a low of 1540) but this 200 dma fits the price action much more accurately.
SLR Price at posting:
$3.10 Sentiment: Buy Disclosure: Held
