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Gold at key resistance

From kitco.com

As we sit with our short positions in gold and silver both, have now reached a key resistance level. On Wednesday, gold reached significant resistance, failed, and then came all the way back to make new highs on the day. This type of action could lead to a reversal to the long side. Gold would reverse to the long side on a close over $1,900 April futures at the close today. The levels change every day, but when short, they can only come down. Today's $1,900 could be tomorrow's 1895, depending on the action. Silver is in a similar position with a close over $26.20 March futures. Today will go a long way in determining ... (full story)

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  • Category: Technical Analysis