Gold: Tests Important Resistance At 1260/61
Jason Sen | Jul 27, 2017 09:29AM ET
Gold tests important resistance at 1260/61 to top so far just above 1263. Shorts need stops above 1266. A break higher however is a buy signal targeting 1272/73, and 1276/77. Above 1279 then targets 1283 and 1289 before the 1295 double top high for this year. I think this will be broken on the third test for an added buy signal.
Failure to hold above 1259 signals a rejection of the important resistance targeting 1252/51 before good support at 1247/45. Further losses target the best support for today at 1239/38. Try longs with stops below 1233.
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