Spot Gold Forecast for 02/11 by Daytradeideas.com

Spot Gold has been directionless for over a week now stuck from 1684.05 down to 1658.01. We held our resistance at 1673 on Friday but above here we could try for 1677.00/75. If we push through here today look for 1682.18-1683.10. Above here however we can test the high for the
past weeks at 1684.10/85.

We have 200 day moving average support at 1665 today. Any longs here need a stop below last Monday’s low of 1662 for 1660/58.

Long term levels

1754.46     Nov High

1723.45     Dec High

1709.09     100 Day Moving Average

1696.20     Jan High

1684.87     Last Week’s High

1672.69     Nov Low

1662.01     Last Week’s Low

1650.60     100 Week Moving Average

1635.75     Dec Low

The article was first published by DayTradeIdeas.com