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Gold Technicals for July 16th

Gold Technicals for July 16th

2010-07-16 15:37:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-07-16-GOLD

Gold has topped. Please see the latest special report for details. Near term, gold is making its way lower and in an impulsive fashion. Look for gold to form a low next week as wave 5 comes to an end. Expectations will then be for a move back to 1220.

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.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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