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Gold Price Supports from Former Highs are between 1263 and 1304

Gold Price Supports from Former Highs are between 1263 and 1304

2016-09-01 21:40:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price Supports from Former Highs are between 1263 and 1304

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. Recent weakness could extend to 1264/85 before gold resumes its broader advance.

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