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15 Apr 2015
Gold outlook remains negative – DayTradeIdeas
FXStreet (Barcelona) - Jason Sen of DayTradeIdeas, views that the outlook for Gold remains negative while it trades below $1193/94, expecting a push lower towards $1184/83 while below it.
Key Quotes
“Gold outlook remains negative & failure to beat 1193/94 triggers a move towards support at 1184/83. We should hold here initially at least but with the outlook quite negative be ready to go with a break below 1179 to target good support at 1174/73. Try longs with stops below 1170.”
“First resistance at 1198/99 is a selling opportunity with stops above 1201. On a break higher we meet resistance at 1204/05. Further gains are unlikely but shorts need stops above 1208.”
Key Quotes
“Gold outlook remains negative & failure to beat 1193/94 triggers a move towards support at 1184/83. We should hold here initially at least but with the outlook quite negative be ready to go with a break below 1179 to target good support at 1174/73. Try longs with stops below 1170.”
“First resistance at 1198/99 is a selling opportunity with stops above 1201. On a break higher we meet resistance at 1204/05. Further gains are unlikely but shorts need stops above 1208.”