Daily Bars
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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Commodity Analysis : Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I'd expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585 remains support and failure to hold 1585 could spell trouble (a run at the lows).
Commodity Trading Strategy : Been sitting long since 2/28. This market is doing nothing but keeping the stop at 1585 (better than breakeven) just in case.
LEVELS: 1555 1576 1585 1620 1639 1652
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
