Gold price will keep sliding, but watch for this rebound level

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Published : March 23rd, 2021
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Category : Market Analysis

Gold is down, at one point, 0.6% on Monday, but traders and investors alike need to understand that this really is not a big move, said Chris Vermeulen, Chief Market Strategist at TheTechnicalTraders.com​. “Today, we’re just this tiny little red bar, this average, usually we see a quarter of a percent, or half a percent move in gold, and today we’re down only half a percent,” Vermeulen said. Gold miners, which usually lead the bullion in price action, have another 10% or so of downside before prices rebound, he added.
0:00 -Short-term trading action for gold
4:50​ – Gold price momentum
8:40 – Gold miners
13:03​ – Key levels to watch
15:36​ – Stock market “breakdown”
17:18​ – Best equity market sectors

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Chris Vermeulen has been involved in the markets since 1997 and is the founder of Technical Traders Ltd. He is an internationally recognized technical analyst, trader, and author of the book: 7 Steps to Win With Logic Through years of research, trading and helping individual traders around the world. He learned that many traders have great trading ideas, but they lack one thing, they struggle to execute trades in a systematic way for consistent results. Chris helps educate traders with a three-hour video course that can change your trading results for the better. His mission is to help his clients boost their trading performance while reducing market exposure and portfolio volatility. He has also been on the cover of AmalgaTrader Magazine, and featured in Futures Magazine, Gold-Eagle, Safe Haven,The Street, Kitco, Financial Sense, Dick Davis Investment Digest and dozens of other financial websites.
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