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FMX Technical Analysis: Gold vs. Dollar Index Suggests Reversal

|Includes: SPDR Gold Trust ETF (GLD)

Gold has seen extensive selling these past days after piercing its trend line, 20 day and 50 day MA’s. On Friday gold found extensive support at the 100-day MA. Key levels that must be watched are support (1087) and the 100-day MA. On the dollar chart, there may be a double top at play as indicated bellow. If the dollar top is confirmed, gold is likely to continue to rally off the 100-day MA and 1087 support level. The dollar is likely to sell off from the double top.  For more charts and data go to

Daily Gold Chart:

Daily Gold Chart

Daily Dollar Index Chart:



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