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Gold Wipes Out all of April; Bounces from Month Open

Gold Wipes Out all of April; Bounces from Month Open

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

eliottWaves_gold_body_Picture_3.png, Gold Wipes Out all of April; Bounces from Month Open

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-A ‘pullback’ materialized all right. Gold got hammered but did end up rebounding at the month open. The decline is probably the beginning of the move into 1235, which is estimated as important support for the longer term bottoming scenario.

LEVELS: 1252 1268 1284 | 1313 1328 1342

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

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