Gold at Risk of Failed Breakout; 1231 is Significant
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The yellow metal is leading the way with respect to risk aversion and the move above trendline resistance may indicate a shift towards risk aversion.” Today’s decline signals follow-follow through on the 1/26 outside reversal and therefore dampens bullish prospects.
-A break of 1231 would open up 1219 and perhaps 1206.
LEVELS: 1206 1219 1231 | 1250 1261 1279
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
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