International gold priced dropped below 1280 on April 16. We’ve been pointing at the 1285/1280 price area as important support for a long time, as history shows it is significant time and again.
This is the 1-year chart of GLD, with the red line indicating the GLD equivalent of the 1280/1285 price. You can see that support held all during 2019 up to this point, bouncing off several times. Now gold has fallen down through support and seems to be establishing a small trading range just below resistance.
So is the 1280/1285 range important again now?
We would argue…
Continue reading at StockNews.com