300 Minute Bars
Prepared by Jamie Saettele, CMT
My latest comments were that "gold continues to decline and the rest of the world is finally noticing (after it's down 20% from the top). As such, we could get bounces but I maintain that the larger trend is down and rallies should be sold. It's a matter of time until the September low is broken…" The bounce from 1560 could reach 1620/40. Shorts are favored into that zone (watch the Elliott channel as well) in anticipation of a test of the September low at 1530.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.