Daily Bars
Prepared by Jamie Saettele, CMT
“Gold has finally done something after consolidation at the top of the multiyear range for several weeks. The sharp break has resulted in a test of the 23.6% retracement of the advance from the late 2011 low. The area is also defined by September congestion. This is a level that could produce a low although 1715 (9/13 low) is probably stronger. The drop has shifted reward/risk to bulls against the 9/7 low at 1689.” Near term, gold faces a test at 1754. Support is now 1737.
LEVELS: 1715 1728 1737 1754 1770 1780
