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Gold Price is Constructive While above 1190

Gold Price is Constructive While above 1190

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price is Constructive While above 1190

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to comments on the gold chart. “Gold has exploded since breaking through 1130. Gold also carved 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. The October high at 1191 held as support, which confirms bullish behavior.”

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

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