Gold Forecast – 23 July

Gold rebound of weekly S1 Support (1313) & makes bullish Englufine candle for the day.

We are looking for swing Long Position near 1320-24 by placing stop below yesterday’s Low (1310). Weekly opening range high 1335 would be first target.

Daily Close > 1335 shift focus on 1345 (weekly pivot) & 1358 (Brexit high).

Ultimate target would be 1380 (38.2 % Retrenchment from 2011 High )  & 1400 Psychological Round Number.

On the flip side break lower shift focus on 1303 (Weekly 200sma) & 1295 (Monthly Pivot) for Support.