Gold showed continued strength on Wednesday following a breakout above a short downtrend line and the 50-Day MA. It is on track to close at a seven-day high and above those two lines. Moreover, the day’s relatively narrow range of $3,328 to $3,359 shows support being found above the two trend indicators. They represented resistance for a couple of days until yesterday. This shows confirmation of strength indicated by the breakout. Resistance was seen around the 20-Day MA, now at $3,349, and it was on Tuesday as well. Tuesday’s high of $3,358 needs to be exceeded for the next sign of strength but a daily close today ... (full story)