Daily Forecast - 17 February 2016
Gold Spot
Gold now back below 1200/1198 with important support at 1190/89 & this again is the last line of defense for bulls. Longs need stops below 1185. A break below here is a sell signal & targets 1180/79 then 11775/74 & 1167/65.
Another recovery today from above 1190/89 re-targets 1199/1200 then 1206. If we continue higher look for 1212, & of course strong short term resistance at 1217/18. Just be aware that a break above here today is a buy signal & targets 1222 then 1226 & strong resistance at 1233/34 for a short term selling opportunity.
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