Slope of Hope Blog Posts

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Gold Breaks Up (by Springheel Jack)

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The downtrend continued yesterday, and on the SPX daily chart the middle bollinger band was tested. If this is just a retracement, or the decline so far has been the first part of a topping pattern, then this is the obvious bounce level. On a break below here, rising channel support, the lower bollinger band and the 50 DMA are in the 1365-70 area and that would be the obvious next target: