Gold: Further Losses Are Expected To Target 1316
Jason Sen | Sep 12, 2016 02:58AM ET
Gold hit the target 1328/27 target and bottomed exactly here as predicted. Although this should be the best support for Monday it looks likely that further losses are seen and a break below 1325 targets only minor support at 1321/20. Longs are not a good idea here and further losses are expected to target 1316 then 1313 and 1310/09.
If a bounce from 1328/27 is seen it is likely to be short lived with first resistance at 1332/33. However if we continue higher look for a selling opportunity at 1339/40, with stops above 1344.
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