Technical forecast for Spot Gold

Spot Gold rocketed through all resistance to gain almost $80 in a day & reach 1365. This happens to be 50% Fibonacci resistance so only a break above trend line resistance at 1372 would allow further gains today with a target of 1379/80.

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Technical forecast for Spot Gold

Spot Gold tested resistance at 1335/37 to take profit as expected & saw a high for the day as predicted. Prices then sold off to retest of 1307/05

Technical forecast for Spot Gold

Spot Gold continued lower to target Fibonacci support at 1307. Here we exited shorts & tried longs with stops below 1300. This trade worked perfectly as we bottomed

Technical forecast for Spot Gold

Spot Gold hit our buying opportunity at 1374/72 over night & bottomed exactly here. This trade worked perfectly as we shot higher to 1398. We then dipped back

Technical forecast for Spot Gold

Spot Gold hit the next target & support at 1396/94 for a buying opportunity & a low for the day with stops below 1389. This trade worked perfectly