Market Overview

Technical Forecast for Spot Gold

 

Spot Gold has been directionless, holding last Thursday’s range of 1684.05 down to 1658.01.  We have some support today from the 9 day moving average and yesterday’s low at 1667.25/1666.85 but below here we should test short term Fibonacci and 200 day moving average support at 1666.60. Any longs here need a stop below Monday’s low of 1662 for 1660/58.  
The over night high is 1675.10/15 and above here look for 1677.00/75 but a push through here can target 1682.18-1683.10. Above here we can test the high for the past week at 1684.10/85. 
 
 

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