News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
Gold
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Gold Follows Through on Outside Day Reversal

Gold Follows Through on Outside Day Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

eliottWaves_gold_body_Picture_3.png, Gold Follows Through on Outside Day Reversal

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“Monday’s outside day reversal (and divergence with silver) is suggestive of lower levels.” The metal followed through on Monday’s reversal before finding support from the early March high. Last week’s low is important on a swing basis. A drop below last week’s low would create an outside reversal and more strongly suggest that a top is in place.

-Long term, a rally through 1434 is needed in order to complete a major double bottom.

LEVELS: 1332 1345 1355 | 1367 1390 1400

--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.

DISCLOSURES