Gold Daily Forecast: Strongest Resistance Today Is At 1242/44
Jason Sen | Feb 23, 2017 05:24AM ET
Gold minor resistance at 1237/39 holding here re-targets first support at 1233/32. If we continue lower, look for support at 1227/26. Further losses target 1220/19. Exit any shorts here & try longs down to our buying opportunity at 1217/16. A bounce from here could be seen here again but longs need stops below 1212.
Strongest resistance for today is at 1242/44. Try shorts again with stops above 1246. A break higher however is therefore a good buy signal initially targeting quite strong resistance at 1255/56, which should hold if tested during this week, for a dip back to the mid 1240 area perhaps.
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