XAU/USD Spot Gold: Resistance Tested
Jason Sen | Sep 30, 2013 01:33AM ET
Spot Gold has tested trend line resistance at 1351 early this morning and failed here. Look for support at 1332 and then 1325/22 below. Any longs here need stops below 1317 for 1313 and then a retest of last week’s low at 1306/05. If this does not hold the downside this week we should retest September lows at 1292/91.
Immediate resistance now at 1340/41 but above here look for Fibonacci resistance at 1346/48 for a selling opportunity. Exit longs and try shorts with stops above 1353.
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