Gold in State of Limbo
60 Minute Bars
Prepared by Jamie Saettele
"Gold has tanked after spending a few days above its channel. Initial support is from former lows and the 21 day SMA near 1325. We cannot proclaim the end to the gold bull move yet. An impulsive decline on intraday charts would indicate as much however." A drop to a new low would make the decline an impulse (5 waves) after which we would expect a corrective advance before the decline accelerates.
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.
