Gold was slightly higher overnight as it consolidates below broken support marked by the 10 day moving average crossing at 1136.50. Stochastics and the RSI are bearish signaling that a short term top might be in or is near.
Closes below the 20 day moving average crossing at 1118.90 would confirm that a short term top has been posted. If February renews the rally off December's low, the reaction high crossing at 1170.20 is the next upside target.
Gold's pivot point for Tuesday is 1132.87
First resistance is last Monday's high crossing at 1163.00
Second resistance is the reaction high crossing at 1170.20
First support is the 20 day moving average crossing at 1118.90
Second support is the reaction low crossing at 1086.60
Get 4 FREE Trading Videos from INO TV!
Share
No comments:
Post a Comment