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Gold Registers Highest Close Since February

Gold Registers Highest Close Since February

2012-09-27 22:49:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_gold_body_gold.png, Gold Registers Highest Close Since February

Prepared by Jamie Saettele, CMT

Gold’s recent decline was nearly entirely retraced today. In fact, the yellow metal registered its highest daily close since the end of February. The advance is no doubt quite mature but the 3 wave decline from 1787.35 suggests that higher prices are in order. Levels of interest in the coming days as gold attempts to extend from the 61.8% of the decline from the record high are from 1790 to 1820.

LEVELS: 1752.91 1761.26 1772.10 1790.55 1807.19 1819.05

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

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