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Gold Faces Resistance up to 1263

Gold Faces Resistance up to 1263

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Faces Resistance up to 1263

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 if reached.”

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

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