Trade FOREX with FXCM

  • Award-Winning Platform
  • 24/7 Customer Support
  • Trade Directly on Charts
  • Free $50K Practice Account

Resources

Gold Gets a Reprieve before 6/28 Close

By , Sr. Technical Strategist
21 November 2013 21:45 GMT

Daily

eliottWaves_gold_body_Picture_3.png, Gold Gets a Reprieve before 6/28 Close

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Gold’s drop through 1260 negated the bullish bias. The drop below the Oct low shifts focus to the 6/28 close at 1234.

-The trendline that extends off of Aug and Sep highs may serve as support in the coming days/weeks. The steep line that originates from the 10/30 high is possible resistance along with 1251-1261.

Trading Strategy: I am flat but the new trend defining level is 1278.80 (below is bearish).

LEVELS: 1180 1208 1234 | 1251 1261 1269

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

21 November 2013 21:45 GMT