Gold News | Gold Doji at Support; Relief Coming? | Gold Daily Forecast |
| Gold Doji at Support; Relief Coming? Posted: 09 Sep 2014 02:49 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 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." -Ultimately, it may be that gold has been tracing out a triangle since Dec 31st of 2013 that leads to new lows. The metal needs to gain traction above 1296 to alleviate downside pressure. --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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