AndreasMunz

Quite oversold, look for retracement as support is near

COMEX:GC1!   GOLD FUTURES
Expecting a breather as gold             seems quite oversold. Look for overall sideways action             for the next 5 to 10 trading days

On a weekly basis, 1200 level marks the middle BBands, hence expecting some support to come in.

Should we break 1200, downside targets of 1120, 110 as well as old lows at 1060

IMHO selling put spreads for the time being might be good to take advantage of the sideways move (or wait and see how it unfolds)


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