Spot Gold Yet Not Recovered, Support At $1610

Published 02/18/2013, 05:13 AM
Updated 05/14/2017, 06:45 AM
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Spot Gold has collapsed, breaking 1617/16 to hit 1598.23. The bounce is now testing resistance at 1619/1621. This should be tough to beat but push higher targets 1626 with any further strength then likely to target 1633/35 for an excellent selling opportunity.

If we cannot get through 1619- 1621 look for a test of support at 1611-1610. A move below 1609 then risks a test of last week’s low at 1598. If we cannot hold on here today then look for a break to target 1595 and then 1590 below but there is scope for a test of 1585 this week in this 4 month down trend.
XAU Spot Gold

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