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What did we see 7-years ago that would suggest Gold(NYSEARCA:GLD) was about to struggle for years to come? The Swiss Franc for years to seems to influence the price of Gold and it was testing the top of a 20-year rising channel where it was creating a monster bearish reversal pattern at (1).
If you look back, the Franc and Gold both peaked together back in 2011 at (1).
The multi-year decline in Gold and the Franc have both testing long-term support at each (2). With the trends for both being down, this support test looks to be one of the most important in the past 15-years!!!