Gold running into short-term resistance levels
This watch list focuses on markets that are close to support or resistance levels. These markets are likely to reverse course over the short-term and present possible trading opportunities. Gold, as an example, is modestly overbought and running into various levels of resistance. When a market shows up on this list it’s time to take note and focus on the strong possibility that it’s either A) going to consolidate as it attempts to test resistance levels or B) reversing direction. Bottom line … looking for new trading opportunities then closely monitor markets on watch list #12.
What to watch …
Resistance targets for Gold stand at (1274 & 1284) this combined with modestly overbought conditions according to our Elastic Level indicator and a bearish seasonal projection, suggests Gold needs to be monitored. For added guidance track our Gold systems … links listed below.
