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Gold Price STILL at the 2011-2012 Trendline

Gold Price STILL at the 2011-2012 Trendline

2016-08-16 17:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price STILL at the 2011-2012 Trendline

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The latest gold comments noted that “strength through the 2011-2012 trendline would be a major development but gold is showing signs of failure at the 2011-2012 line…bigger support is still lower (1280s).” Gold continues to struggle near the 2011-2012 trendline. As such, respect potential for downside/sideways trade until recent consolidation breaks.

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

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