Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader and see ideas on other USD crosses
–Gold turned higher after failing to confirm the drop below October’s low in silver.
-The rally from Tuesday’s low is impulsive (5 waves…you can see it on an hourly chart). Estimated support is 1267-1278.
Trading Strategy: “The combination of support in metals, the mentioned non-confirmation, and Wednesday’s inside day (signs of stabilizing?) is enough evidence to go long against 1250.”
LEVELS: 1251 1267 1278 | 1290 1306 1314