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Gold Resistance Clustered Between 1807 and 1832

60 Minute Bars

Prepared by Jamie Saettele, CMT

Gold has bounced from near 1700. While not clearly an impulse, respect the potential for another down leg in the yellow metal. Resistance is expected at the 50%-61.8% Fibonacci levels of 1807.40-1832.11. The 61.8% level is reinforced by former support at 1823.16.

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Trend Strength (M,W,D) - 3 , 3 , 3

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Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday), technical analysis of currency crosses on Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forex Stream . A graduate of Bucknell University, he holds the Chartered Market Technician (CMT) designation from the Market Technician Association. He is the author of Sentiment in the Forex Market . Send requests to receive his reports via email to jsaettele@dailyfx.com .

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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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