News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Gold Rally Fails ahead of Important High

Gold Rally Fails ahead of Important High

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_gold_body_gold.png, Gold Rally Fails ahead of Important High

Prepared by Jamie Saettele, CMT

No change…I’m looking lower as long as gold is below 1641. There is very little to say as gold is in its 8th week of consolidation. In fact, gold has oscillated on both sides on 1600 since May 2011. This length of consolidation will probably fuel an impressive break…eventually. The sideways trading from the May 2012 low is taking on the form of a head and shoulders continuation pattern (bearish) but a break below 1548 is needed to confirm. Exceeding 1641 would shift focus to 1671 (May high).

LEVELS: 1547 1588 1607 1641 1672 1700

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