Gold: Holding Good Support At 1247/45
Jason Sen | Jul 26, 2017 05:45AM ET
Gold holding good support at 1247/45 as I write. In fact we wrote yesterday: A bounce from here likely on the first test as bulls try to maintain the 2 week recovery, but the profit potential on longs may only be up to the low/mid 1250 area. Further losses target the best support for today at 1239/38. Try longs with stops below 1233.
Important resistance at 1260/61 is the level that matters on an y bounce today. If we are lucky enough to get close to 1258/61 exit longs and try shorts with stops above 1266. An unexpected break higher however targets 1272/73.
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