News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Gold Price Channel Break; Could Bounce Near 1096

Gold Price Channel Break; Could Bounce Near 1096

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Channel Break; Could Bounce Near 1096

Chart Prepared by Jamie Saettele, CMT

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

-Last update noted that “gold has failed to hold 1155 which negates immediate upside 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).” 1130 didn’t do anything and the entire rally from September has nearly been retraced. 1096 could inspire for short term support but the bullish channel break suggests that the gold price will soon be at a new low price.

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES