Gold Price Struggling with 38.2% of Drop from 2016 High
Chart Prepared by Jamie Saettele, CMT
-“There are 2 levels to be aware of for possible resistance in gold; 1219 (38.2%) and near 1250 (50% and former support…including Brexit day low).” 1219 continues to hold as resistance (failed again there today). Continued failures at the level warn of a more important pivot in gold.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.