Gold Breaks Important Longer Term Resistance At 1199/1200
Jason Sen | Feb 11, 2016 03:47AM ET
Gold has broken important longer term resistance at 1199/1200 overnight as I write. This is an important buy signal targets of 1208/09 and 1212/13 have already been hit. We should now continue higher to target 1215, 1219 and 1224. We then target 1227 and 1234.
Any dip back towards 1201/00 is a buying opportunity as we are expected to hold above here now. However a break below 1195 could signal this is a false break and risks a slide to 1188/87, perhaps as far as 1181/80.
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