Gold SPDR Firms in Key Retracement Zone

It has been a tough March for gold, but the Gold SPDR (GLD) may be at support marked by the Fibonacci Retracements Tool. Notice that the decline to 159 retraced 50-61.80% of the prior advance and the ETF firmed just above 160 the last two days. Watch for a long white Heikin-Ashi Candlestick and breakout to reverse this downtrend.

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Click this image for a live chart.

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