Gold Testing 200-Day MA

04/22/2009 11:04 am EST

Focus: COMMODITIES

Thomas Aspray

, Professional Trader & Analyst

chart

The June gold contract has been testing its 200-day MA for the past two weeks, but so far has not closed below it. The 50% support level is now at $850, with the 61.8% at $813. The first positive sign for gold would be a close back above $900, and a move above the 50-day MA at $926 would be bullish.

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