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Gold Trades into June High and Channel Resistance
8/27/2013 7:11:00 PM
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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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 and channel resistance is just above.
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.
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