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
Gold Nearing First Big Test for Bulls

Gold Nearing First Big Test for Bulls

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_gold_body_gold.png, Gold Nearing First Big Test for Bulls

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Are you new to FX or curious about your trading IQ?

Commodity Analysis: Gold is nearing its first big test since longs were established in late February. 1620/25 might trigger a reaction (although I’d expect it to be minor). Stronger resistance is probably 1639-1652, which are former pivots that intersect trendlines starting next week. 1585-1600 is support.

Commodity Trading Strategy: Move risk up on longs to 1575, target still 1650

LEVELS: 1555 1585 1600 1620 1639 1652

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

DISCLOSURES