Technical Forecast for Spot Gold

Spot Gold did make it through 1450 as hoped for 1469/70. We have continued higher over night & could reach as far as 1503 this week. Exit longs here & try shorts with the market looking over bought in the short term now but we need a stop above 1515 for 1540/50 & a selling opportunity here.

 

1469/70 is now good support but below here we could reach 1428/34 which should hold any weakness. We can try longs here with a stop below 1424.