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Gold Price Drifting Lower after Key Reversal

Gold Price Drifting Lower after Key Reversal

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Drifting Lower after Key Reversal

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Bigger picture, gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392. 1307 is a good candidate for failure however.” Gold broke out a few days ago. I wouldn’t want to see price much below 1247 if the move is still higher.

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

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