July 29, 2024 - (Gold Market Wire) - Gold is painting a mixed picture today, as we continue to meander between a market that wants to sell off and one captivated by the deteriorating geo-political scene. Note: A ground invasion of Lebanon by Israel may be imminent.

The market:

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Longer Term look:

The daily trend has to get over the power downtrend resistance, and the weekly has to hold on to the uptrend - - or we might get a big drop. That gap in the weekly back to the 50-day MA is a cause for concern.

Action? We're still not buying here...patience.