Spot Gold has been directionless for over a week now stuck from 1684.05 down to 1658.01. We held our resistance at 1673 on Friday but above here we could try for 1677.00/75. If we push through here today look for 1682.18-1683.10. Above here however we can test the high for thepast weeks at 1684.10/85.We have 200 day moving average support at 1665 today. Any longs here need a stop below last Monday’s low of 1662 for 1660/58.
Long term levels1754.46 Nov High1723.45 Dec High1709.09 100 Day Moving Average1696.20 Jan High1684.87 Last Week’s High1672.69 Nov Low1662.01 Last Week’s Low1650.60 100 Week Moving Average
1635.75 Dec Low
The article was first published by DayTradeIdeas.com