Spot Gold held support at 1569/67 as hoped & halted at 1587/88 resistance as predicted Below 1579 we could now test support at 1569/67 again today & a break below 1565 could signal a retest of February lows at 1555.We will need to get back and hold above 1579/80 for another test of 1587/88 resistance. This could hold the top of the market again today but if we start to push higher look for 1595 with 1605/09 the target above.
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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