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Weekly Wrap (Gold) »» Daily & Weekly Charts
By: Carl Swenlin | April 19, 2019

IT Trend Model: NEUTRAL as of 4/16/2019

LT Trend Model: BUY as of 1/8/2019

GOLD Daily Chart: This week the 20EMA dropped down through the 50EMA, generating an IT Trend model NEUTRAL signal. Gold has executed a head and shoulders pattern by breaking down through the neckline. The minimum downside target is about 1220.



GOLD Weekly Chart: Price has broken down through the bottom of a pennant formation, and the weekly PMO is falling.



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