Technicals | Oct 21 2016
By Jamie Saettele, senior technical strategist, FXCM
The last update noted that “gold has been in a state of indecision since July. Each rally has failed at the trendline and each high has been lower than the prior high. This may need to resolve with a drop towards the low 1960s before broader strength can resume.” An intense breakdown resolved the indecision (well below 1960s). Today’s key reversal may be the beginning of another leg lower.
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