Gold Has First Down Day in 6

By Jamie Saettele, CMT, Sr. Technical Strategist,

Shutterstock photo


Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Interested in automated trading with Mirror Trader ?

Commodity Analysis : " Gold has broken through the zone of consolidation that took place in mid-June and a confluence of trendlines. Focus now shifts to the June high at 1424." 1424 has been reached as has channel resistance and gold pulled back after a long wick Thursday. These are signs of a top.

Commodity Trading Strategy : At resistance so would be looking for signs of a top up here. Would look for support at recent congestion in the 1370s.

LEVELS: 1352 1369 1389 1424 1440 1488

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 Nasdaq, Inc.

This article appears in: Investing Commodities
Referenced Stocks:

More from DailyFX




Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by