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Gold Next Rally Might Fail Spectacularly

Gold Next Rally Might Fail Spectacularly

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_body_Picture_3.png, Gold Next Rally Might Fail Spectacularly

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The October high rests at 1362. This level intersects the line that extends off of the October and November 2012 highs this week. The level is major resistance.

-Irrespective of a final push into 1362, the risk is for a drop into 1279.

LEVELS: 1307 1320 1332 | 1362 1375 1395

--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.

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