Gold Price – 1300 is a Big Spot
Chart Prepared by Jamie Saettele, CMT
-Gold has been tricky (for me at least) of late. I was expecting downside resumption from near 1277 (20 day average, a parallel from the July low, and the 10/5 high.” Instead, gold opened November with the best 1 day rally since 9/6 (which was a top incidentally). The next logical decision point for the metal looks like 1300, which is defined by the 55 day average, May high, and September low.