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Gold Focus is on January Low

Gold Focus is on January Low

2012-03-22 22:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gold_body_gold.png, Gold Focus is on January Low

Prepared by Jamie Saettele, CMT

In general, the series of lower lows and lower highs since the 2/29 mini crash may be the beginning of a larger decline. The 20 day average crossed below the 50 yesterday and last Wednesday’s large range bar has finally been broken (to the downside). Look lower towards the January low (1600) as long as price is below 1670.

Bottom Line (next 5 days) – lower

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