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Gold at Risk of Failed Breakout; 1231 is Significant

Gold at Risk of Failed Breakout; 1231 is Significant

2014-01-30 22:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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eliottWaves_gold_body_Picture_3.png, Gold at Risk of Failed Breakout; 1231 is Significant

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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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