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Gold Price Struggling with 38.2% of Drop from 2016 High

Gold Price Struggling with 38.2% of Drop from 2016 High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“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.

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