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EGCJ26 ~ Daily
Here is an update on the daily gold chart we shared last week. Overnight selling in gold found support at the 200-day moving average near $4100. There was a lot of damage; we believe that marked the beginning of the end for the gold bull market. Look for bounces to be rejected at what were previously resistance areas ($4400 and $4700). If $4700 is surpassed, we could see $5200, but the odds favor the rally failing at $4700. #gold $gld #metals #preciousmetals