Gold – 20 Dec

Surprise surprise, paper gold closed right at resistance on the 200 day moving average. So far the bottom looks like a bottom and support at 1562. Resistance is still the 200 day moving average that needs to cleared on a close. All the technical studies are on the rise  and stochastic is poised to lose the bearish embed below 20. A cross of the 20 level sets up the 18 day moving average as the price objective, currently at 1681.

All in all, I am happy the paper crowd got what they were looking for because I got what I was looking for:

Thank you paper hangers, you make it possible for me to walk in the footsteps of giants.

Merry Christmas!

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