Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Interested in automated trading with Mirror Trader?
Commodity Analysis: Gold broke through the July high and has entered a zone of consolidation that took place in mid-June. The consolidation stretches from 1365 to 1395. The top of this zone is a confluence of trendlines. The trade above July’s high makes August the first month since October 2012 for price to exceed the prior month’s high.
Commodity Trading Strategy: Flat
LEVELS: 1339 1347 1357 1384 1395 1424
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.