Technical forecast for Spot Gold

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Spot Gold did make it through 1450 as hoped for 1469/70. We have continued higher over night & could reach as far as 1503 this week. Exit longs here & try shorts with the market looking over bought in the short term now but we need a stop above 1515 for 1540/50 & a selling opportunity here.

1469/70 is now good support but below here we could reach 1428/34 which should hold any weakness. We can try longs here with a stop below 1424.

Jason Sen began his career in the options pits on the trading floor of LIFFE in 1987 at the age of 19, making markets on his own account. In 2001 when the trading floor closed he successfully made the transition to day trading on computer screens. Jason always had an interest in technical analysis throughout his trading career but began to study this area in depth from 2006. www.daytradeideas.com has established itself as the leading provider of... More