Gold now bullish, targeting 1284

Jason Sen DayTradeIdeas.co.uk

Daily Forecast - 26 October 2016

Gold Spot

Gold holding above important resistance at 1272/73 is now bullish & as we wrote yesterday, a sustained break above 1276 is a buy signal targeting 1284/85 then strong resistance at 1292/94.

Failure to hold above 1270 however would be more confusing & risks a slide to 1267. This is the last line of defence for bulls. A break below 1264 kills the buy signal & targets 1260/59 then 1255/54.

Author

Jason Sen

DayTradeIdeas.co.uk

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