Daily
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-Recent gold updates noted that “the October high at 1191 has held as support, which confirms bullish behavior” and that “a triangle has formed over the last few weeks. The breakout objective from that pattern is 1336, which is near the July 2014 high of 1345.” The move higher has stalled. A close below 1246 would suggest that the breakout has failed in which case the metal could return to 1180/90 before turning up again.
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