Gold Breaks Channel Support; Larger Bear Resumption?
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-Gold reversed from channel resistance 2 weeks ago. The rally from 1180 would consist of 2 equal waves at 1440, a little over $6 from the top that is in place now.
-Price broke the 9/2 low and channel support. Near term focus is 1300-1315. Bearish break is valid below 1368.
-1334/38 is resistance for Friday.
Trading Strategy: Never got triggered on 1375 shorts. Looking to start short position at 1334.
LEVELS: 1273 1300 1315 | 1334 1368 1393