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
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Gold Wedge Target at 1392; Pay Attention to 1345 Too

Gold Wedge Target at 1392; Pay Attention to 1345 Too

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly

Gold Wedge Target at 1392; Pay Attention to 1345 Too

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “1130 (2014 low and close to the 200 day avg) does loom as resistance for the gold price. A break above 1130 would be viewed as a positive in what may be an attempt at forming a major bottoming pattern.” Gold has exploded since breaking through 1130. Barring a drop below 1210 on Friday, gold will also carve out a wedge breakout on a weekly basis. The origin of the wedge is the target, at 1392. Pay attention to 1340s as well, which is defined by the 200 week average (plotted above) and July 2014 high.

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