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Gold at Outside Day at Bottom of Resistance Range

Gold at Outside Day at Bottom of Resistance Range

2014-01-14 21:23:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_gold_body_Picture_3.png, Gold at Outside Day at Bottom of Resistance Range

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.

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