Gold: Try Shorts With Stops Above 1265
Jason Sen | Feb 28, 2017 06:51AM ET
Gold key to direction is strong resistance within the 1255/60 area. Try shorts with stops above 1265. However an unexpected break above 1265 is another important buy signal targeting 1269 and strong resistance at 1277/78. Try shorts with stops above 1284.
Failure to beat 1255/60 as expected, targets minor support at 1246/45 then 1241/40. We could bottom today within this 6 point area but longs are too risky. A break below here is an added sell signal and targets 1233/32 which is likely to be the best support for this week.
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