Gold at Right Place for Rally Attempt
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
-“Gold is consolidating around the level that was consolidation after the 10/17 advance and before the 10/22 advance. The opposite may be occurring now, in which case the yellow metal could very well see 1282-94 in the coming days.”
-Price is at the lower end of the given range. Momentum is slowing on the downside but there is not sign of a low yet.
Trading Strategy: If/when the market responds, we may have an opportunity.
LEVELS: 1251 1269 1282 | 1296 1306 1315
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