The price of gold has been stepping higher. Adam outlined the 'Very simple case for buying gold" in his post HERE. And that makes a ton of sense. However, there are times when the momentum fades and there is a corrective move, or "the case" changes and the market reverses. The technicals help to tell THAT story. Looking at the hourly chart of the price of gold, there is a ceiling in place. That comes in between $2526 to $2531. That's a risk defining level and known. Break above it and I would expect more upside momentumThe price has moved lower over the last 24 hours and in doing so, the price has moved below the 100 and 200-hour MAs. Those level come between $2507 and $2509.The price
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