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Gold Support at 1420

Gold Support at 1420

2011-03-25 14:34:00
Jsaettele,
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60 Minute Bars

eliottWaves_gold_2_body_gold.png, Gold Support at 1420

Prepared by Jamie Saettele

A break of long term trendline support is needed in order to suggest that an important top has formed in gold. The trendline is at 1357 this week. Near term, the new high makes 5 waves and should give way to at least a corrective decline back towards 1420.

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