Spot Gold Analysis

Spot Gold

Spot Gold had a rough session a day ago to drop like a stone as sellers applied the pressure. Price now is in a zone where we expect to see a reaction higher but if a lower high starts to build, expect to see some further selling that could take price down to the 1237/1242 zone. For higher prices and a test back up to 1370, we will need to see the 1308 level broken and then a higher low to build which will drag in some more buyers to support the move up.

Commodity : Spot Gold

Current Price : 1283

Status : On watch for continued selling pressure

Previous Alert 21/5/18

Spot Gold

Spot Gold has had a rough few weeks as price pushes lower and buyers now need to step in if price is going to head higher. Price is showing signs of being oversold and at a key level where we are expecting a reaction higher but if not, and sellers hold lower highs, we see an extended move down to $1242.

Commodity : Spot Gold

Current Price : 1288

Status : On watch for higher lows and buying pressure