cooney_s

Gold; XAUUSD compressing

FX:XAUUSD   Gold Spot / U.S. Dollar
I see the price action of Gold continuing to compressing through the remainder of 2014. I am testing a method of so called magnetic points by creating a grid. According to this chart as gold remains under 1247 there are several points of interest to monitor. Price appears to complete compression by December 15/16 where we could see a strong move to either side. One other point of interest is a possible retest of the October low mark of $1,190 which according to the chart could take place in the time frame of November 5/6.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.