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Gold Market the Epitome of August Trading

By DailyFX,  August 07, 2012, 06:55:00 PM EDT

Daily Bars

Prepared by Jamie Saettele, CMT

No change: "After breaking the triangle pattern, gold has dropped well into its former range. Other than calling this a range, there really is no reason to waste time trying to figure out where this market is headed next. In fact, one can make the argument that the triangle remains underway (latest top composing wave C), in which case this market will get even more frustrating to follow over the next few months."

LEVELS: 1563 1584 1602 1618 1630 1641

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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

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