DailyFX.com -

Daily

Gold Churning but Holding Gains

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“The drop to a new low does satisfy minimum expectations for wave C. Gold has turned up just shy of the ideal 1236 level. Above 1283 would suggest that the larger trend has reversed.”

-“1331/34 is probably a reaction level but stronger resistance is seen from possible bearish triangle resistance at 1366.” 1331 is providing resistance, which leaves open the possibility of a deeper drop. 1280 would probably be support.

LEVELS: 1294 1308 1316 | 1327 1334 1342

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    Crude Oil Breaks 5-Month Uptrend, SPX 500 Drops Most in Over a Year

  2. Investing

    Gold Remains Weak Despite the Greek Crisis

  3. Investing

    Gold: Q3 2015 Forecast

  4. Forex News

    Weekly Trading Forecast: US Dollar Set to Rally as Greek Crisis Intensifies

  5. Forex News

    Gold Preserves June Range- Watch Greece, U.S. NFP Report for Cues

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!