Technicals - Gold - potential for a technical sell signal to be generated
QMG Pty Ltd
A potential technical top formation has emerged on the spot gold price. A New York close below US$1257 is required, which if this occurs, would generate a technical sell signal, resulting in the spot gold technical outlook turning negative. The downside technical price target in that situation would then be located at US$1210 - the minimum expectation for a pullback. Currently, US$1257 is the key technical level to watch.
Angela has over 30 years experience in the technical analysis field. She provides technical analysis coverage of major Australian and global stocks / key markets, including provision of a bespoke technical service to wholesale clients.