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Gold Price – 1200 is the Sweet Spot

17 Nov 2016 19:44, GMT
Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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-“The big development in gold would be a break through the 2011-2012 trendline, which was resistance from June to September.” The trendline was resistance after the election. Needless to say, price is back below the 200 day average and near term focus is lower. The intersection of slope and the May low (1200) looks like a magnet.

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