Gold News | Gold Churning but Holding Gains | Gold Daily Forecast |
| Gold Churning but Holding Gains Posted: 08 Jul 2014 04:22 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 -"The drop to a new low does satisfy minimum expectations for wave C. Gold has turned up just shy of the ideal 1236 level. Above 1283 would suggest that the larger trend has reversed." -"1331/34 is probably a reaction level but stronger resistance is seen from possible bearish triangle resistance at 1366." 1331 is providing resistance, which leaves open the possibility of a deeper drop. 1280 would probably be support. LEVELS: 1294 1308 1316 | 1327 1334 1342 --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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