Gold Support at 1690
60 Minute Bars
Prepared by Jamie Saettele, CMT
At this point, gold’s decline from 1790.55 is in 3 waves, which is corrective. The advance from 1663.29 has the underpinnings of an impulse (5 waves). The implications are for corrective weakness before another run higher. Support is 1690 (roughly). Strength from the current level would test 1726.
Bottom Line (next 5 days) – sideways / higher?
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