Gold Reacts at April High
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.”
-“1331/34 is probably a reaction level but stronger resistance is seen from possible bearish triangle resistance at 1366.” The former level was reached today and 1310 is the near term pivot.
LEVELS: 1309 1316 1322 | 1334 1342 1366
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