Gold: resistance at 1248/47

Jason Sen DayTradeIdeas.co.uk

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

Sell 100%

Buy 0%

Avg Sell Price 1268.00

Avg Buy Price 0.00

Liquidity Distribution

Author

Jason Sen

DayTradeIdeas.co.uk

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