Gold – Ready to Shine Again?

Daily

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 but dips have been muted. As such, upside acceleration towards 1439 (measured move) is viewed as a distinct possibility sooner rather than later.

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