Gold sold off yesterday after spiking as high as 1434 in early trading yesterday, forming a bearish "shooting star" candlestick on the daily chart that suggests a short term top may have been put in.
With the Syrian crisis no closer to being resolved and the course of action unknown at this stage, there is potential for gold to spike higher once more along with oil.
However, this morning gold is down further at 1407 and oil has sold off back below $109 a barrel. The dollar is finding some strength and equities have stabilised after a sharp sell off recently.
Support comes in at 1400, 1390, 1385, 1350 and 1340, with resistance at 1431-1434, 1450 and 1488.
Today's video for subscribers looks at the recent trading and our strategy for our next trade.
With the Syrian crisis no closer to being resolved and the course of action unknown at this stage, there is potential for gold to spike higher once more along with oil.
However, this morning gold is down further at 1407 and oil has sold off back below $109 a barrel. The dollar is finding some strength and equities have stabilised after a sharp sell off recently.
Support comes in at 1400, 1390, 1385, 1350 and 1340, with resistance at 1431-1434, 1450 and 1488.
Today's video for subscribers looks at the recent trading and our strategy for our next trade.