Gold News | Gold Slams into 61.8% of Advance | Gold Daily Forecast |
| Gold Slams into 61.8% of Advance Posted: 07 May 2014 02:18 PM PDT Daily  Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0 Automate trades with Mirror Trader and see ideas on other USD crosses -Gold reversed sharply on 4/24 and again on Friday. The 4/24 reversal was accompanied by large volume which increases the likelihood that the reversal is an important technical event. -Gold failed to hold 1293 support, which dampens enthusiasm for a bullish call. In any case, the drop did stop at the 61.8% retracement of the rally from the low. LEVELS: 1268 1274 1286 | 1309 1320 1328 --Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members. DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.  |
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