Gold Springs a Bear Trap
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-Gold bottomed on Friday at 1175, just above the 61.8% retracement of the 1142.59-1224.15 advance.
-Friday’s drop and Monday’s reversal triggers a bear trap (the trap being that Friday’s drop completed a short term bearish continuation pattern). Look towards 1300.
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