#Gold Trying To Hold Above $1700/Oz For The April Monthly Close $GLD

MasterMetals Charts

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MasterMetals

@MasterMetals

#Gold main Trend Up, but Momentum May Be Trending Lower

'main trend is up according to the daily swing chart, however, momentum has been trending lower since last Thursday. A trade through $1788.80 will signal a resumption of the uptrend. A move through $1576.00 will change the main trend to down.

“The new minor range is $1788.80 to $1666.20. Its 50% level or pivot at $1727.50 is potential resistance. Watch for aggressive countertrend sellers on the first test of this level. They are going to try to form a secondary lower top.

“The short-term range is $1576.00 to $1788.80. Its retracement zone at $1682.40 to $1657.30 is potential support. This zone helped stop the selling pressure on Tuesday at $1666.20.”

see the post on MasterCharts here: #Gold main Trend Up, but Momentum Trending Lower

.@BankofAmerica just Realized “The @FederalReserve Can’t Print #Gold” Targets $3,000 Gold

In their latest report, Bank of America Says Gold to Reach $3,000—50% Above Its Record, as Central Banks print Massive Amounts of Fiat Currency yo Backstop the System

https://www.bloomberg.com/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold