NEW YORK (TheStreet) -- With the Federal Reserve's FOMC meeting underway today and Wednesday, investors are looking for clarity in a variety of markets.

Alan Knuckman, chief market strategist of Trading Advantage, told TheStreet's Jill Malandrino the upside move in gold was very rapid and the fall back to the $1,300 level should act as solid support for traders looking to get long.

He added that the weakness in the U.S. dollar and strength in the euro could act as a positive catalyst for gold to go higher. However, perhaps gold itself is not the best way to play an upside move.

Like gold, Barrick Gold ( ABX) and Newmont Mining ( NEM) are near or at their halfway-point support levels, he said. Knuckman likes Barrick Gold near $18 and Newmont Mining around $28, with a stop-order for the latter at $27.

He concluded these stocks are leaning on solid support levels and offer favorable risk-to-reward ratios.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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