News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Commodity Technical Analysis: Gold Testing Fibonacci Support

Commodity Technical Analysis: Gold Testing Fibonacci Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Commodity Technical Analysis: Gold Testing Fibonacci Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Commodity Analysis: The current level, defined by the 61.8% retracement of the rally from the low and 1/4 close (1/4 is important because it was a high range day and high volume day), is critical to the next move in gold. Strength above Friday’s high would suggest that a low is in place.

Commodity Trading Strategy: Flat

LEVELS: 1626 1642 1655 1672 1683 1697

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

DISCLOSURES