Gold Technical Analysis: 200-Day Moving Average Retest

After a 29% drop in the price of Gold, the Gold bulls have been, well......    bullish.  

Get it?
 

Now the price has rallied back to the purple 200-day moving average.

Sellers stepped in as they "should"? 
 

Maybe should?
 

 Or maybe as anticipated?

It doesn't matter what we think should or should not happen.

The fact is that the 200-DMA acted as support for a brief period earlier this year.

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Trent Klarenbach, BSA AgEc, PAg, publishes the Klarenbach Grain Report,  Klarenbach Special Crops Report, The Daily Board and The Daily Kernel newsletters.                                                                                                                                                                                                                                                                                                                                                                                                   

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