DAILY SPOT GOLD - Thursday's call and technicals
All our weekly targets have been met as in line with daily signals which have continued to point higher, investors bought the market on Wednesday to post a 4th higher daily low & high in a row and a gain of 36 Pts. A fresh over 6 year top at 1510.4 has kept daily signals for sentiment much overstretched and the potential for a profit taking pullback is high. Weakness into the close and modest selling in Asia this morning hasn’t offered a clear bearish reversal pattern, but there is a cautiously negative bias and signals for Thursday are pointing temporarily lower and the call is to sell on the open and then at 1505.8, today’s Asia high with a stop loss at 1515.0. Targets are to 1493.1, today’s Asia low, 1488.0, Wednesday’s Marabuzo line and 1474.3, Wednesday’s opening trade
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