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Gold Trades to New High in Tight Range

Gold Trades to New High in Tight Range

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold Trades to New High in Tight Range

Prepared by Jamie Saettele, CMT

Gold eked out a new high today as the market (like most markets) has experienced quiet consolidation this week. Keep the highs from February (1790.55) and November 2011 (1802.80) in mind but today’s new high and immediate selloff is consistent with additional sideways / downside action.

LEVELS: 1715 1737 1747 1791 1800 1825

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

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