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Gold Price 200 Day Average is Still Trouble for Bulls

Gold Price 200 Day Average is Still Trouble for Bulls

2017-04-06 21:07:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Gold Price 200 Day Average is Still Trouble for Bulls

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-Gold has been at resistance (1250) for most of the last 3 weeks. The 200 day average is clearly important (tested and failed 4 times so far in 2017) but a push through the average would shift focus to 1278 (61.8% retracement from 2016 decline). If gold comes off now, then 1220 (resistance in January and support in February) should be watched for support.

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