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Gold future sees a range theme, but with a positive bias

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Gold future sees a range theme, but with a positive bias

February 2015 Contract

A whipsaw tone through the holiday season has reinforced the previous setback from topping resistance at 1228/24 and break below 1186 that set a boarder range theme in mid-December.

Range Parameters: We still see the range defined by 1141 and 1239.

Range Breakout Challenge

  • Upside: Above 1239 aims higher for 1256 and 1280.
  • Downside: Below 1141 sees risk lower for 1131 and 1100.

For Today:

  • We see an upside bias through 1198; break here aims up to 1204/06, maybe 1211.
  • But below 1182 opens risk down to 1167, maybe 1162.

Daily Gold Future (Continuation) Chart


4 Hour Gold Future (February 2015 contract) Chart



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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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