Spot gold is testing short-term support at $1750/ounce as the greenback strengthens. Breach of the rising trendline would suggest that the advance is losing momentum — and breakout below $1700 would signal another test of primary support at $1600. Respect of $1700 is less likely, but would signal an advance to $1900.
* Target calculation: 1800 + ( 1800 – 1700 ) = 1900
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Hi Collin. Do you think the rise of Crude is due to consumer demand or investor speculation/safehaven flows?