Daily Forecast - 13 April 2015

Gold Spot

 Gold Spot

Gold first resistance at 1211 is key to direction & a good chance this will hold the topside today. Try shorts with stops above 1214. However on a break higher 1212/11 acts as support & we could then target 1218/19. If we continue higher look for a selling opportunity at 1224/25 with stops above 1229.

Failure to beat 1211 should trigger a move lower towards first support at 1205/04. If this does not hold the downside we target 1198 then meet good support at 1196/95. A low for the day is likely but there is further good support at 1193. Longs need stops below 1189. A break below here is more negative for this week & targets 1184/83.

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

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