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Gold Not Responding to Increased Activity in Mid-East is a Negative

So when we look at the gold market, we're retreating. We're down for the week and today's the first day of the week – 1%. When we take a look at how the chart actions going, it's a lot of nothing so far, back and forth waves in here; you haven't gone anywhere in a while. When we look at the chart pattern, you have a lower low and a higher high. That is not a trend in the market.

The battleground has been the 18-day average of closes in red. The first supports the 200-day average of $2013.20 and the Bollinger Band should be right around there and here it comes in at $2010.70.

So if the market falls, I can make the argument: the $200 to the Bollinger band, if it really accelerated the 100-day average...after that, I don't know. But do I think we're trending right now? I don't. 

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