Markets

Gold Remains Pressured; Risk on Shorts Moved Down to 1315

Daily

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader

-A head and shoulders top is confirmed. The objective is below the June low of 1180 at 1150.

-Possible supports along the way are the August low at 1272 (market has traded around that level the last 2 days), the 6/28 close at 1234, and channel support (downward sloping) ,

Trading Strategy : Short, risk is tightened to 1315 . T arget is 1150 (basically a test of the lows). I'll continue to trail stops as market action allows.

LEVELS : 1208 1234 1260 | 1290 1315 1330

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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 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.

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