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Gold Trading Levels are 1180/90, 1307 and 1335/45

Gold Trading Levels are 1180/90, 1307 and 1335/45

2016-03-08 19:18:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Trading Levels are 1180/90, 1307 and 1335/45

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.

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

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