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Gold Beginning of End of Bottoming Process?

Gold Beginning of End of Bottoming Process?

2014-05-14 19:14:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Beginning of End of Bottoming Process?

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-Gold made its 3rd bullish outside day since 4/24 on Monday. The 4/24 reversal was accompanied by large volume which increases the likelihood that the reversal is an important technical event. The implication is that gold is well supported and therefore headed higher.

LEVELS: 1274 1285 1296 | 1309 1320 1328

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

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