Gold: Short Term Outlook Negative

Published 2015-11-03, 06:16 a/m

Gold Chart

Gold short term outlook negative, and holding below 1137 targets 1130/29, then 1123/22. This area is a strong short term buying opportunity and could see a low for the week.

First resistance at 1137/38, but above 1139 could target stronger resistance at 1143/44. Try shorts with stops at 1147. On an unexpected break higher, however, look for 1144/43 to act as support for a move towards strong resistance at 1150/52. Try shorts with stops at 1156.

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