On Thursday the gold market popped over the upper levels of its Donchian Channel. We suspect that the top of the Donchian Channel acts as resistance for gold. Only the monthly Trade Triangle is still red. With a Chart Analysis Score of +60, this market is in an trading range. With our monthly Trade Triangle in a negative position we are no longer quite as bullish on this metal. Long term term traders should be in short positions in silver with appropriate money management Intermediate term traders should be on the sidelines.
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