Gold Finds 1200 Support
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.”
-“If gold is going to make good on its bullish breakout, then we should see support near 1200.” Failure to hold 1191 would negate the bullish outlook.
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