Gold Trading Spotlight: Watch That Up-Trend Line!

Gold is pulling back on Friday as investors in the shiny metals take profits.

It’s notable that today’s weakness comes near prior highs and as price exhaustion signals come into play.

That said, today’s minor pullback hasn’t done much to damage to the uptrend. And it will take a move UNDER 1340 before one can think the near-term trend is changing.

Therefore, I think buyers will use further weakness to add to positions in gold and select mining stocks.

Sign up for our FREE newsletter
and receive our best trading ideas and research



Gold Futures Chart

Thanks for reading.

 

Twitter:  @MarkNewtonCMT

Author has positions in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.