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Gold Finds 1200 Support

Gold Finds 1200 Support

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Finds 1200 Support

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“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.

For more analysis and trade setups, visit SB Trade Desk

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