Gold Quiet Despite USD Smackdown
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Gold reversed sharply on 4/24. The reversal is accompanied by large volume which increases the likelihood that the reversal is an important technical event.
-1236 is viewed as major swing support and 1260 is a Fibonacci confluence. Either one of these levels could produce an important low if one is not already in place.
LEVELS: 1252 1260 1285 | 1303 1310 1319
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.