Spot Gold Forecast for 03/05 by Daytradeideas.com

on March 05 2013 8:57 AM

Spot Gold broke 1584 & fell all the way back to 1565. Support 1569/67 held yesterday as expected and could hold any weakness again today. However a break below 1565 could signal a retest of February lows at 1555.It does look like we can hold above 1579/80 for 1587/88 resistance. This could hold the top of the market today but if we start to push higher look for 1595 with 1605/09 the target above.

Spot Gold Spot Gold  daytradeideas.com

Spot Gold Trend Spot Gold Trend  daytradeideas.com

 

Long term levels1754.46     Nov High1723.45     Dec High1709.09     100 Day Moving Average1696.20     Jan High1655          100 Week Moving Average1635.75     Dec Low1626.68     Jan Low1620          Last Week’s High1611         23.6% Fibonacci1565         Last Week’s Low

 

The article was first published by DayTradeIdeas.com

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