Gold Extends Historical Breakdown-2011 Low in Sight

DailyFX

Weekly Bars

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eliottWaves_gold_body_gold.png, Gold Extends Historical Breakdown-2011 Low in Sight

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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Commodity Analysis: See Friday’s weekly for analysis on gold. Near term resistance is estimate at 1420-1460 with support at the current level (channel support) and at the 2011 low of 1307.45.

Commodity Trading Strategy: Flat

LEVELS: 1226 1265 1307 1384 1427 1460

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