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Gold Inside Day Provides Reference Points

Gold Inside Day Provides Reference Points

2012-03-15 21:10:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gold_body_gold.png, Gold Inside Day Provides Reference Points

Prepared by Jamie Saettele, CMT

Today’s inside day indicates consolidation. Use Wednesday’s large range bar extremes (high and low) as points of reference to determine a bias. In other words, turn bullish on a break of Wednesday’s high and bearish on a break of Wednesday’s low. Downside levels of interest are former pivots at 1625 and 1605.

Bottom Line (next 5 days) – lower?

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