Gold News | Gold Slipping Towards 200 DMA…Again | Gold Daily Forecast |
| Gold Slipping Towards 200 DMA…Again Posted: 19 Aug 2014 10:21 AM 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 decline from the top is impulsive. The implication is for a minor low to form and for gold to trade back into 1315/20 before trading lower again (1270/80 is estimated support)." Gold has traded into resistance (slightly above as of Thursday). If a larger decline is underway, then gold should turn down between now and 1335." -"Weakness has stalled at the 200 DMA (also the 61.8% of the advance from the June low). I'm looking for a turn higher." Look towards 1366. --Tradingideas 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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