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 Flush to New Lows Coming?

Gold Flush to New Lows Coming?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_body_Picture_3.png, Gold Flush to New Lows Coming?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-Gold remains bearish but emotions are high and the metal is nearing a potentially significant price level (1155).

-Beyond 1180, the Jul 2010 low at 1156 and perhaps the 2010 low of 1045 become of interest. The former level is in line with a short term measured objective of 1055. The latter level is in line with the 2008 high at 1033.

Trading Strategy: Short, tighten stop to 1245 (entry was 1245), target 1160 (1211 – (1267-1211)) = 1155

LEVELS: 1045 1155 1180 | 1211 1220 1234

--- Written by Jamie Saettele, CMT, Senior Technical Strategist for DailyFX.com

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

DISCLOSURES