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Gold 03-17

Gold 03-17

2010-03-17 15:56:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT317gold

Gold has traded sideways since December and appears to be building a bullish base. Specifically, the base could be a complex head and shoulders (the head itself is a head and shoulders).” The decline from 1145 is in 7 waves, which counts as a complex correction. Look for support near / just below 1120.

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, Wednesday, and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum.  He is the author of Sentiment in the Forex Market.  Follow his intraday market commentary and trades at DailyFX Forex Stream.   Send requests to receive his reports via email to jsaettele@dailyfx.com.

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