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Commodity Technical Analysis: Gold Trades Higher after 1700 Test

By DailyFX,  October 25, 2012, 07:25:00 PM EDT

Daily Bars

Chart Prepared by Jamie Saettele, CMT

Commodity Observation s : "Gold is nearing potentially strong support from the 38.2 retracement of the rally from 1522.50 at 1691.40 and 9/7 low at 1689.05. The decline from the top would consist of 2 equal legs at 1685.63 (also the 9/3 low)."

Commodity Trading Strategy Implication s : 1685-1691 is a level to consider longs

LEVELS: 1646 1677 1685/91 1714 1730 1753

forex news currency trading


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

Referenced Stocks:



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