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Gold Price 1155 Fails to Hold, 1130s for Support?

Gold Price 1155 Fails to Hold, 1130s for Support?

2015-10-29 20:04:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price 1155 Fails to Hold, 1130s for Support?

Chart Prepared by Jamie Saettele, CMT

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

-The gold rally failed right at the year open price of 1182. 1155 has failed to hold which negates immediate upsie potential. Given the fact that this rally initiated from a MAJOR long term support, one should still ‘look for’ supports though. 1130 might be that support (slope confluence and 2014 low).

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

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