Gold Market Wire
News, analysis and commentary for gold traders and investors
Gold Market Opening
Gold Touches the Trend Line
November 13, 2023 - (Gold Market Wire) - A week ago, we noted that the conservative length might wait for $1934 to put some length on. That, of course was where the support line came in. It was also where our second 'fib' retracement came in.Those who left resting orders got filled. Now for the important part... Can the market hold?
The market has been slowly slipping lower and now faces its first real challenge. The uptrend needs to hold, or we will have to start cutting some of the length. Big picture the market remains strong. There is nothing to indicate a major reversal of fortunes, but we still have to work the trading position. Let's see what the a.m. brings.