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If Gold Breaks This Technical Support Level, Target Is $695

Gold investors should be watching a trend line closely that stretches back to 2009. As of now, the commodity gold is trading above the line...barely. If price moves below the major support trend line, gold may see a massive decline to as low as $695.00. Based on rough analysis, it appears that the trend line is around the $1,165. So in other words, as long as that line holds, gold is safe and can be played  carefully on the long side. But if it breaks, get out of the way immediately.

 

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