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Gold Price – Trouble Area for This Rally

Gold Price – Trouble Area for This Rally

2016-10-27 20:26:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price – Trouble Area for This Rally

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is a lot in the way of gold at current levels, including the 20 day average, a parallel from the July low, and the 10/5 high. With all of the technical consideration up here, don’t dismiss potential for another leg lower. A view of intraday price action reveals a rally that takes the shape of a wedge as well.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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

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