Because gold closed above the average price, the trend momentum was bullish as we came into this week.

It also tells us that if gold closes below $1,520, it would negate this bullish trend momentum, and a second close below $1,520 would activate the levels below.

Gold did close below $1,520, and we came down to the levels that we saw on the 20th into that low $1,500 level.

Gold did not quite come down to $1,493, which was the weekly signal, but it did activate the daily signals at $1,506/7.

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