Blake Morrow’s Chart of The Day – Gold
Gold
Following the FED, gold initially stalled and then turned lower from the ascending wedge’s T/L resistance and is about to break down from here.
Today we closed the day below the wedge and the 200DMA and this points to a reversal and pullback to the breakout area at $1730. Keep looking lower for now as long as we keep trading below $1805.
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Steve Voulgaridis / Blake Morrow
20221216
