Gold: Negative Outlook As We Top At 1271/72
Jason Sen | Apr 27, 2017 06:54AM ET
Gold same levels apply for today but outlook is more negative as we top at 1271/72. Holding below 1265/64 re-targets 1261 and good support at 1258/56 where a low for the day looks very likely. Exit shorts and try longs with stops below 1250. However be ready to sell an unexpected break below 1250 to target 1245/44 and perhaps as far as 1240/39.
Minor resistance at 1265/66 but 1271/72 could see a high for the day once again. Try shorts with stops above 1278. An unexpected break higher however targets 1281/82 then 1288.
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