We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Bearish
USD/JPY
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Gold
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Bearish
Bitcoin
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Commodity Technical Analysis: Gold Support Expected Near 1700

Commodity Technical Analysis: Gold Support Expected Near 1700

2012-11-08 01:09:00
Jamie Saettele, CMT, Sr. Technical Strategist
Share:

Daily Bars

Commodity_Technical_Analysis_Gold_Support_Expected_Near_1700_body_gold.png, Commodity Technical Analysis: Gold Support Expected Near 1700

Chart Prepared by Jamie Saettele, CMT

Commodity Observations: Gold extended gains initially before failing just above the 11/1 and 10/23 highs. The rally from the 11/5 low is impulsive. “The sharp advance following a sharp decline does suggest that weakness was exhaustive and that a base is forming from which price can work higher.”

Commodity Trading Strategy Implications: Expect a dip into 1695-1702 before another rally.

LEVELS: 1685 1695 1702 1727 1749 1775

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

DISCLOSURES

News & Analysis at your fingertips.