Short List Of Gold Stocks To Watch Hovering Around Technical Support/Resistance Levels; Is A Bounce In-Store?
The last month has been crazy for gold stocks. The coronavirus has brought the world’s economy to its knees and with no vaccine in sight, President Trump announced a possible stimulus package for the U.S. economy. China has already done this. Traders now want to watch how the markets react to this news.
With the markets up and down a thousand points in one session, it’s important to know support levels for certain stocks within a given sector. The importance of this is to understand what to watch for in a possible bounce situation. We have several gold stocks trying to bounce off their 50-day moving averages right now. These may warrant a closer look considering the current state of gold prices this week.
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