Gold Forecast: Positive Weekly Candle Indicates Further Strength
Jason Sen | Mar 23, 2015 07:12AM ET
Gold must now hold above 1181/1183 for a move up to the next target of 1193/1195 today. We should struggle here with 4 month trend line strong resistance just above at 1199. A high for the day is expected if we reach this far. Just be aware however that any further gains this week run into very strong resistance at 1204/1205 for a selling opportunity.
Good support at 1183/1181 to try longs with a stop below 1177. A break below 1175 then adds pressure risking a test of strong support at 1168/1167 for a buying opportunity with a stop below 1164.
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