Market Overview

Technical Forecast for Spot Gold

Technical Forecast for Spot Gold


Spot Gold edged higher but only as far as 1384. We then fell to our buying opportunity at 1357/55 with a low for the day expected. We have bottomed exactly here in fact as we start to look oversold short term but longs need stops below 1352 for a test of the next support at 1342/41. Exit shorts & try longs here expecting a bounce from here but with stops below 1336.


If we can hold on to 1355 look for 1362 & possible a bounce as far as 1368/69. If we continue higher we should meet 1374/75 before yesterday’s high at 1384.

The preceding article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

Posted-In: Commodities Markets Trading Ideas


Related Articles

View Comments and Join the Discussion!