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Gold Tests March High; 1247 Still Support on a Dip

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Gold Tests March High; 1247 Still Support on a Dip

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Bigger picture, gold completed a diagonal pattern (wedge) the week of February 12th. The objective from the pattern is the origin of the diagonal, which is 1392.” I still think that the next major buying opportunity is mid-1100s but this rally might make that price unrealistic. As such, watch for support near 1250 if given the chance.

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