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Gold: Try Shorts With Stops Above 1265

Published 02/28/2017, 06:51 AM
Updated 07/09/2023, 06:31 AM
XAU/USD
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GC
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Gold Weekly Chart

Gold key to direction is strong resistance within the 1255/60 area. Try shorts with stops above 1265. However an unexpected break above 1265 is another important buy signal targeting 1269 and strong resistance at 1277/78. Try shorts with stops above 1284.

Failure to beat 1255/60 as expected, targets minor support at 1246/45 then 1241/40. We could bottom today within this 6 point area but longs are too risky. A break below here is an added sell signal and targets 1233/32 which is likely to be the best support for this week.

Latest comments

Gold. Target.. 12.86
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