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Gold 1410 and 1446 are Pivots

Gold 1410 and 1446 are Pivots

2011-03-09 15:41:00
Jsaettele,
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Daily Bars

eliottWaves_gold_2_body_gold.png, Gold 1410 and 1446 are Pivots

Prepared by Jamie Saettele

I wrote Friday that “the short term count makes the case for one more high before a more important top registers. Gold has pulled back from a record high but focus remains the next big round figure at 1500. Keep an eye on weekly resistance lines as well (there are 2 lines – one extended from the December 2009 and December 2010 highs and one extended from the May 2010 and December 2010 highs).” The new high has registered which leaves gold vulnerable. The opening range (for the month) pivots are 1410 and 1446.

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