Markets

Gold Reverses at 61.8% Fibonacci Retracement

60 Minute Bars

Prepared by Jamie Saettele, CMT

Weakness is not clearly impulsive but respect potential for another down leg in the yellow metal. The rally from the recent low has reversed at the 61.8% retracement of the decline from the top which is often a sign that the rally in question is corrective. I am cautiously bearish.

Come See Me In Las Vegas!

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

Latest Video

Weekly Forecast

COT

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 .

forex newscurrency trading

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.

Other Topics

Commodities

Latest Markets Videos