Technical Forecast for Spot Gold

Spot Gold edged back up to 1428/34 & has pushed higher towards 1450. The outlook is more positive if we hold above 1434 & if we make it through 1450 today look for 1469/70, possibly a move as far as 1503 this week. Exit longs here & try shorts with a stop above 1515.

 

1428/34 is now good support & should hold any weakness but below here we could reach 1405 then 1395/90 where we could see a low for today if we fall this far.