Daily
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
Automate trades with Mirror Trader
–Gold reached channel resistance and pulled back last week. The rally from 1180 would consist of 2 equal waves at 1440, a little over $6 from the top that is in place now.
-The 10 day EMA is holding as support for now (closing basis). In trends, this average has tended to serve as support/resistance.
Trading Strategy: Looking for resumption of long term weakness as per the 3 wave advance from 1180 and near equality of the legs from the low. No trade setup yet.
LEVELS: 1318 1352 1373 | 1417 1424 1440