Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Gold has had little upside action in 2013. It is breaking down this morning to a key support level – I am using the gold ETF (GLD) to show this on the stockcharts.com chart since it doesn’t chart the commodity itself until after the close. But you can see how important this level is as it is where the commodity bottomed last May and December 2011. A break below that and you go to May-July 2011 areas.
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