JimMakos

The $1,150 key support level for gold

COMEX:GC1!   GOLD FUTURES
211 2 2
Should we buy now or wait for the breakout?
It may appear that we have a support near 1150$ but MACD is Under zero and falling. There is still a major downtrend with no signs of rising. Weekly and daily indicators wich I follow MACD, RSI, are Under zero or 50% with down trend. I wont be suprise to see GC1! going Under 1000$ and the next support is around 800-900$. Personally, I have closed my position on gold lately and concentrate myself elsewere. Trade carefully
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