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November 24, 2020

Market Update: November 24

There is a massive parallel in the Dow at about 30900 that is worth noting. The line crosses the 2007 and 2018 highs and high from early this year. The line equidistant from the median line (concept symmetry) was support in March. These parallels are based on the line that connects the 1932 and 1982 lows (see monthly chart below).
November 23, 2020

Market Update: November 23

Gold tagged proposed resistance on Friday and dumped today…beautiful. Price is quickly approaching the long held support near 1780. This level is an important parallel and the lower channel line from the bearish channel off of the August high. I’ll be paying close attention to 1780 for reversal evidence.

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