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Daily

Gold Price Small 20 Day Closing Range Since January 5th

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 also continues to hold 1330. A break of one of the technical barriers sets direction for the next move (1400+ or 1280).

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