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Gold Inside Day at Short Term Support

Gold Inside Day at Short Term Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold Inside Day at Short Term Support

Prepared by Jamie Saettele, CMT

Gold has returned to its range but is holding support from the trendline that extends off of the 4/4 and 4/23 lows. With the failed break on May 1, consider a bearish triangle. ALSO keep in mind that gold is testing a multiyear trendline.

Ideas:

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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