Commodity Technical Analysis: Gold Trying to Hold 1700
Chart Prepared by Jamie Saettele, CMT
Commodity Observations: “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.” Gold slipped just below 1715 today before rallying over $10. At least a short term low appears to be in place and focus is higher towards 1753.
Commodity Trading Strategy Implications:
LEVELS: 1691 1700 1713 1754 1770 1780
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