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STO Technical - Gold poised for 200 day MA?

XAU/USD may be coming off the year to date highs struck earlier in the month but we are finding repeated support around $1220, the 38.2% retracement of the July-December 2016 sell off. Look for resistance around the 50% retracement of $1250 then the 200 day Moving Average, currently $1263.

The FTSE-100 found support at the end of January close to the 38.2% retracement of the Trump election driven rally. Look for this to hold in the medium term around 7085, with resistance likely to be seen at January highs of 7354.

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Thursday, 16 Feb, 2017 / 1:42

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