Gold at Outside Day at Bottom of Resistance Range
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Gold is $70 off of the low seen on the final day of 2013. Action is promising but see how the market responds up here. 1253-1268 is home to pivots since Oct as well as trendline resistance.”
-Today’s outside day warns of a dip. Keep 1219 in mind as support.
Trading Bias: Flat
LEVELS: 1219 1231 1243 | 1261 1268 1278
--- 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.