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Gold Price Breakout; Trouble Starts at 1187

Gold Price Breakout; Trouble Starts at 1187

2015-10-13 17:00:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price Breakout; Trouble Starts at 1187

Chart Prepared by Jamie Saettele, CMT

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

-“Gold has rallied from a 9 year trendline. 1150-1175 is a big test for this rally.”

-“Resistance influenced near 1150. Watch for support now at 1107.25.” Support came in just below 1107.25 (low was 1104.50) and price has broken resistance and the push above resistance on the daily indicates an important behavior change. Look towards 1187-1207.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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