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Gold Price Finally Realizes it’s at Resistance

Gold Price Finally Realizes it’s at Resistance

Jamie Saettele, CMT, Sr. Technical Strategist


Gold Price Finally Realizes it’s at Resistance

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Gold is finally starting to come off. The metal has been at resistance (1250) for 7 days. Watch 1219 for support. The 200 day average is clearly important here and a push through the average would indicate promise. Short term focus would shift to 1278 (61.8% retracement from 2016 decline).

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