Daily Forecast - 13 April 2016

Gold Spot

Gold

Gold outlook is less positive with short term risks increasing to the downside. Holding below 1255/54 targets good support at 1250/49 but longs here are a little risky today. If we continue lower look for 1246/45 then a buying opportunity at 1242/41. A good chance of a low for the day but longs need stops below 1236.

Holding above 1254/55 could retest 1260/62. Further gains look unlikely at this stage but would target minor resistance in the 1267/70 area. We should struggle here & a high for the day certainly possible, but be aware that further gains target 1275/77 then 1282 highs.


 

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