Technicals - Gold - potential for a sell signal to be generated

Angela Mangan

The spot gold price is currently trading near key technical support located at US$1322. It has the potential to generate a technical top formation / generate a technical sell signal. A New York close below key support located at US$1322 is required to activate the sell signal, which if this occurs, would target a minimum pullback to US$1265.


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Jordan Eliseo

Think you could be right Angela - market feels like it wants to push lower temporarily here - a 'hawkish' Yellen (a relative term if ever there was one) at Jackson Hole could be the catalyst

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Angela Mangan

It has been interesting to note that in mid-August a cluster of gold stocks generated technical sell signals. Commonly, stock technicals lead the related commodity.

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