The gold price held where we’d anticipated, now taking out resistance
The gold price is doing as anticipated, per this (now public) NFTRH+ subscriber update.
As noted in the November 7 video update, gold was destined to lose the first support area after spiking upward and getting overbought. As also noted in the update the moving averages should hold as a support area (1922 to 1934) or it will get less comfortable.
As yet the gold price is normal and doing as anticipated, working off the overbought reading. We’d like to see the immediate support level (1948) hold or failing that, the moving averages hold to keep things normal.
Gold poked through support for a test of the moving averages, and this morning it is climbing back above former support, which will be more viable now that moving average testing has been done. Nothing’s every a sure thing, but this is the preferred scenario and it is on track.
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