Gold Sheds 6% in May but Rests on Edge of Cliff
Daily Bars
Prepared by Jamie Saettele, CMT
"The sideways trade since 5/16 may be a triangle. The implications are for several more sharp swings between recent extremes before a break to a fresh low. From a trading standpoint, trading in the middle of a correction is never a good idea (least amount of clarity)." Look lower from here as the triangle appears to be in its latter stages.
LEVELS: 1462 1477 1522.50 1584 1600 1625
Prepared by Jamie Saettele, CMT
"The sideways trade since 5/16 may be a triangle. The implications are for several more sharp swings between recent extremes before a break to a fresh low. From a trading standpoint, trading in the middle of a correction is never a good idea (least amount of clarity)." Look lower from here as the triangle appears to be in its latter stages.
LEVELS: 1462 1477 1522.50 1584 1600 1625
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