Gold Dips before Trendline Resistance
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“Gold is well 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 October as well as trendline resistance.”
-Keep 1219 and 1206 in mind as support. Resistance comes in from trendline resistance (off of the August and October highs) and the December high.
LEVELS: 1206 1219 1234 | 1247 1255 1268
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.