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Gold Price Slammed-200 Day Average in Focus

Gold Price Slammed-200 Day Average in Focus

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Slammed-200 Day Average in Focus

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The last update noted that “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.An intense breakdown resolved the indecision. Pay attention to the mentioned 1960s for support. The 200 day average and well-defined slope cluster from 1257 to 1263.

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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