Gold Likely Faces Resistance Near 1420
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-Gold reached channel resistance and pulled back last week.
-The line that extends off of the 2011 high (all-time high) and February 2012 high (line in red) served as support.
-The underside of the line that extends off of August lows and the 8/28 close are now estimated resistance at 1417/20.
Trading Strategy: Flat
LEVELS: 1318 1352 1373 | 1417 1424 1440
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