Gold Price Breaks Out to 3 Month High
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-“The decline from 1224.15 may compose a 3 wave decline known as a flat (wave subdivisions of 3-3-5). If this interpretation is correct, then gold will exceed 1224.15 while staying above 1169.40.”
-Gold has broken out to 3 month highs. 1240 could influence for a pullback but the trade is long and breakout focus is on 1280-1301.