Skip to Content
News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

Free Trading Guides
Subscribe
Please try again
Select

Live Webinar Events

0

Economic Calendar Events

0

Notify me about

Live Webinar Events
Economic Calendar Events

H

High

M

Medium

L

Low
More View More
Gold Price Still at the Fibonacci Level…Still Under Pressure

Gold Price Still at the Fibonacci Level…Still Under Pressure

Jamie Saettele, CMT, Sr. Technical Strategist

Share:

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-The 2011-2012 trendline was resistance after the election. Gold continues to trade around the 61.8% of the rally from the December 2015 low, which is a natural level for the market to react. 1200-1225 is near term resistance and needs to give way in order to turn positive for something bigger. Until then, additional downside can’t be dismissed into the 1120s or so.

Join Jamie for a free webinar on Friday.

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

DISCLOSURES