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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View More
Gold Price Wedge Shaped Rally is Ominous; Watch 1219

Gold Price Wedge Shaped Rally is Ominous; Watch 1219

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“A key reversal formed on Monday and high is right at the 200 day average. Trendline support is near 1236.” Gold has followed through on its key reversal and is trading right near 1236 at Thursday’s close. The rally from December takes the shape of a wedge, which could spell trouble for the yellow metal as wedges often resolve with sharp reversals. A near term level to pay attention to is 1219 (resistance then support in January and February).

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

DISCLOSURES