GOLD for the week of Feb 6th 2017
Initial Resistance (1st tier) 1245-1255 (2nd Tier) 1272-1282
Initial Support (1st tier) 1207-1219 (2nd Tier) 1190-1197
Our last update listed resistance (2nd Tier) at 1222-1232 and the high was 1225. Support was listed at 1172-1182 and the low was 1197.
Gold Short Term (Bullish since 1134) Goes Bearish on close below 1197
Resistance this week and the odds favored targets are 1245-1255 and 1272-1282.
Support 1207-1219 & 1192-1197. The Trend is up. Close below 1192-1197 puts short term bearish. There's minor resistance at the 1235-1238 area at the red line.
Pivot is the 1218-1222.
As long as we’re above that, we’re heading for the resistance areas. There’s a minor resistance near 1235-1238 we need to get above (at the red line). The trend remains up into this week & then we'll see.