Gold (Spot) - Intraday - We look to Buy at 1504 (stop at 1494)
The medium term bias remains bullish. 2 positive daily performances in succession. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Last week Marabuzo is located at 1503. Bespoke support is located at 1504. Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 1535 and 1540
Resistance: 1520 / 1535 / 1550
Support: 1504 / 1487 / 1479
The medium term bias remains bullish. 2 positive daily performances in succession. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. Last week Marabuzo is located at 1503. Bespoke support is located at 1504. Although the anticipated move higher is corrective, it does offer ample risk/reward today.
Our profit targets will be 1535 and 1540
Resistance: 1520 / 1535 / 1550
Support: 1504 / 1487 / 1479
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