Gold Price at 200 Day Average-Watch 1220s Too
Chart Prepared by Jamie Saettele, CMT
-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. Gold is trading just under the 200 day average now but may need to slip into the 1220s before putting in a floor. Watch this video for more.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.