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18 Mar 2015
Gold: Sell a break below $1142 for $1133/31 – CharmerCharts
FXStreet (Barcelona) - Carol Harmer of CharmerCharts, views that with Gold bears back in control, a break below 1142 should remain a sell for 1133/31.
Key Quotes
“Gold failed to break 1164 and this set the sellers back in control and they drove the market lower to target 1146/42...All short positions have been covered.”
“Now we want to sell a break below 1142 as a break below here should lead us to our target of 1133/31 which we have had in place for 2 weeks now.”
“This is excellent support and under current market conditions it is unlikely to break the first at- tempt...There cover all shorts ahead of here...and attempt small longs...we are not looking for much on the topside, but a move back to 1160/61 should not be ruled out.”
Key Quotes
“Gold failed to break 1164 and this set the sellers back in control and they drove the market lower to target 1146/42...All short positions have been covered.”
“Now we want to sell a break below 1142 as a break below here should lead us to our target of 1133/31 which we have had in place for 2 weeks now.”
“This is excellent support and under current market conditions it is unlikely to break the first at- tempt...There cover all shorts ahead of here...and attempt small longs...we are not looking for much on the topside, but a move back to 1160/61 should not be ruled out.”