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.
- 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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