Spot Gold Remains Quiet
Jason Sen | Apr 17, 2014 05:25AM ET
Gold very quiet as we consolidate Tuesday's sharp losses. Today immediate support is 1296/95 but below 1292 risks a retest of this week's low at 1285/84. If we continue lower look for a test of April 1st lows and 100 day moving average at 1277/76. A good chance of a low for the day here but a break could then target Fibonacci support at 1263/62.
Immediate resistance at 1303 but above here could target 1308/10, possibly as far as 1313/14 for a selling opportunity, with stops above 1318.
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