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Gold Quiet Despite USD Smackdown

Gold Quiet Despite USD Smackdown

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Gold Quiet Despite USD Smackdown

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-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.

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