Gold Price Finally Realizes it’s at Resistance

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Daily

Gold Price Finally Realizes it’s at Resistance
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-Gold is finally starting to come off. The metal has been at resistance (1250) for 7 days. Watch 1219 for support. The 200 day average is clearly important here and a push through the average would indicate promise. Short term focus would shift to 1278 (61.8% retracement from 2016 decline).



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Gold Price Continues to Probe 200 Day Average from Below

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Daily

Gold Price Continues to Probe 200 Day Average from Below
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-Gold has been at resistance (1250) for most of the last 3 weeks. The 200 day average is clearly important (tested and failed 3 times so far in 2017) but a push through the average would shift focus to 1278 (61.8% retracement from 2016 decline). If gold comes off now, then 1220 (resistance in January and support in February) should be watched for support.



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Gold Price 200 Day Average is Still Trouble for Bulls

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Daily

Gold Price 200 Day Average is Still Trouble for Bulls
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-Gold has been at resistance (1250) for most of the last 3 weeks. The 200 day average is clearly important (tested and failed 4 times so far in 2017) but a push through the average would shift focus to 1278 (61.8% retracement from 2016 decline). If gold comes off now, then 1220 (resistance in January and support in February) should be watched for support.



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Gold Price Launches Towards 2011-2012 Trendline and Fib Relationship

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Daily

Gold Price Launches Towards 2011-2012 Trendline and Fib Relationship
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-“The 200 day average is clearly important (tested and failed 4 times so far in 2017) but a push through the average would shift focus to 1278 (61.8% retracement from 2016 decline).” Gold break through today (4/11) and is closing in on the mentioned 1278. The 2011-2012 trendline is up here too. A weekly close above the level (trendline and 1278) would be viewed as a major development.



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Gold Price Looking for a Weekly Close Over the 6 Year Trendline

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Weekly

Gold Price Looking for a Weekly Close Over the 6 Year Trendline
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-Tomorrow’s close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) lines up as a level to pay attention to from a tactical standpoint.



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Gold Price Looking for a Weekly Close Over the 6 Year Trendline

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Weekly

Gold Price Looking for a Weekly Close Over the 6 Year Trendline
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-Tomorrow’s close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) lines up as a level to pay attention to from a tactical standpoint.



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Gold Price Break above 6 Year Trendline is Significant

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Weekly

Gold Price Break above 6 Year Trendline is Significant
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-I noted last update that “the weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) lines up as a level to pay attention to from a tactical standpoint.” The 2011-2012 trendline has been broken. For more on gold, check out this video.



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Gold Price – Watch for Support in Low 1260s

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Daily

Gold Price – Watch for Support in Low 1260s
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-The weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) and 1264 line up as levels to pay attention to from a tactical standpoint.



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Gold Price – Hold or Fold Level

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Daily

Gold Price – Hold or Fold Level
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-“The weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) and 1264 line up as levels to pay attention to from a tactical standpoint.” The proposed support is being tested now. Failure to hold here would shift focus to the next horizontal level near 1240.



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Gold Price Consolidating on 2011-2012 Line

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Daily

Gold Price Consolidating on 2011-2012 Line
Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts


Real Time Positioning

-“The weekly close for gold is important as a close above the 2011-2012 trendline would be the strongest indication yet of a major trend change. 1307 (big low in 2011 and high in December 2014) and 1264 line up as levels to pay attention to from a tactical standpoint.” The proposed support is being tested now. Failure to hold here would shift focus to the next horizontal level near 1240.



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