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Gold ‘Acting’ Bullish Near Term; 1255-1263 Could Influence

Gold ‘Acting’ Bullish Near Term; 1255-1263 Could Influence

2014-12-11 18:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold ‘Acting’ Bullish Near Term; 1255-1263 Could Influence

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The sharp advance from the lows may indicate that a 5th wave terminal thrust is complete in gold.”

-Gold has been reacting well to near term levels (holding at levels one would expect if the behavior has changed) and the next resistance zone is 1255/63 (Oct high and 61.8% retrace of drop from July high). Expect a pullback from that zone.

--Tradingideas are availabletoJ.S. Trade Desk members.

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