Updates on how dynamic, risk-managed investment solutions are performing in the current market environment.
Last week, gold prices broke above the 50-day moving average on the daily chart, closing the week at $1,780.20 per ounce.
Last week, gold prices continued moving up off the “double bottom” pattern identified in last week’s article. They broke above the resistance trend line that began at the start of 2021 and then approached the 50-day moving average before closing the week at $1,744.80 per ounce.
Gold prices bounced back a second time off the $1,670-per-ounce support level they found three weeks ago.
Gold prices moved sideways last week, closing at $1,732.30 per ounce.
Gold prices continued moving up from the support level at $1,675.00 per ounce, closing the week up at $1,741.70 per ounce.