Gold Daily P&F Since 1975

FX:XAUUSD   Gold Spot / U.S. Dollar
23 0 0
This chart gives a concise summary of the price action of spot gold             since 1975. If spot gold             can hold above the 45 degree downtrend line (in other words stage a recovery before $1,050 is breached) it has the potential to form an important base and - as suggested by other charts - complete the 5th wave in it's Elliot wave formation. This configuration may warrant a speculative long position.
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