Gold Trading Levels are 1315/20 and1270/80

By DailyFx | Updated July 30, 2014 AAA

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Gold Trading Levels are 1315/20 and1270/80

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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-“1331/34 is probably a reaction level but stronger resistance is seen from possible bearish triangle resistance at 1366.” Gold ended up finding a high between those 2 levels. The decline from the top is impulsive. The implication is for a minor low to form and for gold to trade back into 1315/20 before trading lower again (1270/80 is estimated support).

LEVELS: 1258 1268 1285 | 1314 1336 1366

--Tradingideas are availabletoJ.S. Trade Desk members.

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