Gold Follows Through; Rally Could Derail at 1366
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The drop to a new low does satisfy minimum expectations for wave C. Gold has turned up just shy of the ideal 1236 level. Above 1283 would suggest that the larger trend has reversed.”
-1331 is probably a reaction level but stronger resistance is seen from possible bearish triangle resistance at 1366.
LEVELS: 1285 1295 1306 | 1331 1342 1366
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