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Gold Carnage Takes a Break

Gold Carnage Takes a Break

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_gold_body_Picture_3.png, Gold Carnage Takes a Break

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 last Monday’s reversal and then made an outside week reversal. Look towards 1280 and maybe 1240 on a swing basis.

-Near term, 1307 may produce a low and give way to a bounce into 1334.

LEVELS: 1279 1294 1307 | 1320 1334 1342

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

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