Gold Price 200 Day Average is Still Providing Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Watch 1219 for support in gold now but realize that price is still under the 200 day average (resistance on Monday in fact). A push through the average would contribute to the broader constructive outlook and shift focus to 1278 (61.8% retracement from 2016 decline).