Over the last few years, the monthly chart on the gold spot price has printed higher lows while creating a strong resistance at $1,366/oz. As the stock market continues the recession trend, commodities are used to hedge those losses which will only help increase the price of gold.
Technicals:
Support - increasing trendline
Resistance - $1,366
MACD - Almost bullish cross on the monthly
GOLD
or
GLD
Technicals:
Support - increasing trendline
Resistance - $1,366
MACD - Almost bullish cross on the monthly
GOLD
or
GLD
