Gold Backing And Filling Before Breaking Above 200DMA
Gary Savage | Oct 14, 2015 06:57AM ET
Gold's price has broken out to higher highs, but expect some consolidation and backing and filling before it breaks above the 200DMA.
As predicted, everyone started calling a top yesterday when the miners (Market Vectors Gold Miners (N:GDX)) corrected and all gold did was retest the triangle breakout. This will continue all the way up. Instead of just riding the trend, traders will be forced to try and pick a top.
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