by Peter Schiff, Schiff Gold:

The price analysis last month highlighted that gold was trapped between long-term support and resistance. It highlighted:

Regaining $1700 is a positive turn, especially with the explosiveness of the move. That said, $1800 has proven to be a much harder hurdle to hold above. At $1750, it sits right in the middle of what was once very solid support and solid resistance. A move through either could create a snowball effect.

While last month was a very neutral analysis, the data this month points to a bit more positive momentum. Let’s take a closer look at the data.