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Gold Price Tags 200 Day Average from Above

Gold Price Tags 200 Day Average from Above

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

Gold Price Tags 200 Day Average from Above

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

Real Time Positioning

-“The weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) and 1264 line up as levels to pay attention to from a tactical standpoint.” The proposed gold support did not hold so focus is on the next horizontal level near 1240.

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

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