Market Overview

Technical Forecast for Spot Gold

Share:
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 following 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!