Gold: resistance at 1248/47
|Daily Forecast - 20 June 2017
Gold
Spot Gold holding below the 100 day moving average resistance at 1248/47 targets 1242/41 then 200 day moving average support at 1238/37. In oversold conditions this could hold the downside but longs look risky - below here we test 200 week moving average at 1234/33. I would certainly cover shorts at this stage & wait to see what happens from here.
First resistance at 1247/48 but 1251/52 likely to hold a rally. If we continue higher look for a selling opportunity at 1255/56, with stops above 1260.
Gold Current Trading Positions
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