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Gold Price – 1219 and 1250 are Possible Tests

Gold Price – 1219 and 1250 are Possible Tests

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Support held and focus is towards 1200-1210 (May 2016 low and 11/14 low)…I’ll re-evaluate the gold chart after (if) that level is reached.” Gold is above 1210 (somewhat surprised that the level didn’t provide any resistance). There are 2 levels to be aware of for possible resistance; 1219 (38.2%) and near 1250 (50% and former support…including Brexit day low).

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

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