Gold Could Continue Higher; Next Target 1193/1195
Jason Sen | Mar 24, 2015 07:52AM ET
Gold could continue higher to the next target of 1193/1195 today. We should struggle here but look for 4 month trend line strong resistance just above at 1199/1200. 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, with stops above 1209.
Below 1286 is less positive but good support at 1183/1181 could hold the downside again. Try longs again 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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