MTECHTIPS Gold: Key To Direction Is Strong Support At 1081/80

MTECHTIPS Gold: Key To Direction Is Strong Support At 1081/80 

Gold: key to direction is strong support at 1081/80. This is an excellent buying opportunity BUT we may have already seen the low for this correction at 1083. If this is the case, we look for a recovery to first resistance at 1091/92. Shorts here look too risky and if we continue higher look for stronger resistance at 1099/1100 for some short term on any remaining longs. Try shorts with stops above 1104. A break below 1076 is a sell signal. This means our bottoming pattern has failed and we could target 1073 then 1070.