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Gold Fibonacci Confluence Rests at 1260

Gold Fibonacci Confluence Rests at 1260

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Gold Fibonacci Confluence Rests at 1260

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 a longer term low.”

-1260 is a Fibonacci confluence that could produce a low.

LEVELS: 1252 1260 1268 | 1295 1304 1310

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

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