Daily Bars

Prepared by Jamie Saettele, CMT
“The decline from the high in gold is impulsive (5 waves) but that decline could just as well complete a flat. As such, it is best to refrain from the short side until a drop below last week’s low (1752).” A drop below would shift to 1715 and probably quickly given the crowded nature of this market.
LEVELS: 1715 1737 1752 1770 1780 1790