{"id":59279,"date":"2011-12-08T10:36:18","date_gmt":"2011-12-07T23:36:18","guid":{"rendered":"http:\/\/www.fnarena.com\/index.php\/2011\/12\/08\/gold-teeters-on-the-edge\/"},"modified":"2011-12-08T10:36:18","modified_gmt":"2011-12-07T23:36:18","slug":"gold-teeters-on-the-edge","status":"publish","type":"post","link":"https:\/\/staging.fnarena.com\/index.php\/2011\/12\/08\/gold-teeters-on-the-edge\/","title":{"rendered":"Gold Teeters On The Edge"},"content":{"rendered":"

\n\tBy Jamie Saettele<\/span><\/p>\n

\n\t\"\"<\/p>\n

\n\tPrepared by Jamie Saettele<\/span>, CMT<\/span><\/p>\n

\n\tThe 3 wave rally from the September low is viewed as a correction of the decline from the record high and should be completely retraced. A look at the long term picture reveals that gold remains above long term trendlines<\/span> but some of those lines are well below the current level. Even a test of the trendline<\/span> that has defined price since the summer 2010 lows would result in a test of the mid 1500s<\/span> (52 week average in the vicinity). A drop similar in amplitude to the one that occurred in September would reach the low 1400s<\/span>. If gold has entered a larger bear market, then price needs to stay below the September- November trendline<\/span>. Confidence in the downside is increased as gold has broken trendline<\/span> <\/a>support, and held trendline<\/span> resistance.<\/p>\n

\tThe views expressed are not FNArena's<\/span> (see our disclaimer).<\/p>\n

\n\tFor real time news and analysis, please visit http:\/\/www.dailyfx.com<\/span>\/real_time_news<\/p>\n

\n\tDailyFX<\/span> provides forex<\/span> news on the economic reports and political events that influence the currency market. Learn currency trading with a free practice account and charts from FXCM<\/span>.<\/p>\n

\n\twww.dailyfx.com<\/span><\/p>\n

\n\tDisclaimer<\/strong><\/em><\/p>\n

\n\tForex<\/span> Capital Markets is headquartered at Financial Square 32 Old Slip, 10th Floor, New York, NY 10005 USA.<\/u><\/em><\/p>\n

\n\tTrading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before you decide to trade the foreign exchange products offered by Forex<\/span> Capital Markets, LLC, Forex<\/span> Capital Markets Limited, inclusive of all EU branches, FXCM<\/span> Asia Limited, or FXCM<\/span> Australia Limited, any affiliates of aforementioned firms, or other firms under the FXCM<\/span> group of companies [collectively “FXCM<\/span> Group”] you should carefully consider your objectives, financial situation, needs and level of experience. If you decide to trade foreign exchange products offered by FXCM<\/span> Australia Limited you must read and understand the Financial Services Guide and the Product Disclosure Statement. FXCM<\/span> Group may provide general market information and commentary which is not intended to be investment advice and the content of this email must not be construed as personal advice. By trading, you could sustain a total loss of your deposited funds and therefore, you should not speculate with capital that you cannot afford to lose. You should be aware of all the risks associated with trading in foreign exchange products. Foreign exchange products are only suitable for those customers who fully understand the market risk. FXCM<\/span> recommends you seek advice from a separate financial advisor.<\/em><\/p>\n

\n\tFXCM<\/span> Group assumes no liability for errors, inaccuracies or omissions in these materials and does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM<\/span> Group shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. This email is not a solicitation to buy or sell currency. All information contained in this e-mail is strictly confidential and is only intended for use by the recipient. All e-mail sent to or from this address will be received by the FXCM<\/span> corporate e-mail system and is subject to archival and review by someone other than the recipient.”<\/span><\/em><\/p>\n

\n\tTechnical limitations<\/strong><\/p>\n

\n\tIf you are reading this story through a third party distribution channel and you cannot see charts included<\/span>, we apologise<\/span>, but technical limitations are to blame.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Market analysts at FXCM see the technical picture as indicative of gold on the edge of further declines.<\/p>\n","protected":false},"author":9,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[22],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59279"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=59279"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/59279\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=59279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=59279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=59279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}