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Gold Reverses but Momentum Remains Strong

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eliottWaves_gold_2_body_gold.png, Gold Reverses but Momentum Remains Strong

Prepared by Jamie Saettele, CMT

Focus remains on the long term (multiyear) trendline, which is at 1686 this week (increases about $5 a week). A traditional measuring technique reveals a longer term objective of 1692.05 (adding width of consolidation to breakout level). Coming under 1640 would shift focus to support at 1645 and 1632.

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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