Gold Price Closing Above $1245 Signals Positive Start To The Week
New York (Apr 10) Gold holding first support at 1235/36 re-targets 1243/45 initially, then on a break above we look for 1254/55. A weekly close above 1245 would be an added positive signal for the start of next week.
Good support at 1235/36 and again at 1233/32. However if we continue lower, look for a buying opportunity at 1228/27. As long as this area holds, the bullish breakout of the bull flag remains in play. Longs need stops below 1224. A weekly close below 1224 puts bears back in control for the start of next week.