Technical Forecast for Spot Gold

Spot Gold has managed yet another a recovery to resistance at 1295/1300. This is the upper end of the 2 week range but a break higher looks possible today & could allow a move towards 1325/30 for an excellent selling opportunity.

 

Immediate support is 1287 but below here look for 1279/78 then 1271/70 which has held the downside this week. A bounce from here is likely again but watch for a break lower to target 1265/64 then 1255.