Gold Price – 5th Day in a Row Down from Trendline
Chart Prepared by Jamie Saettele, CMT
-Gold has been in a state of indecision since July. Each rally has failed at the trendline and each high has been lower than the prior high. This may need to resolve with a drop towards the low 1960s before broader strength can resume. If price closes above 1355 while maintainin the September low, then action since July can be interpreted as a bullish wedge.