Gold Price – Not Making a New High With Silver

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Gold has turned down from a well-defined technical zone (1240/50) (check out the video from 2/8) and the drop has found support from January resistance at 1219. A market that is trending higher and finding support at former resistance is bullish but the non-confirmation between gold and silver today (new high for silver…silver video) is typical at turns (in this case a high for metals).