Gold is touching this morning the daily resistance set at 1810 dollars per ounce. In case of daily close above this level, we envisage 1840 and then 1880 dollars.
1880 dollars is the most important resistance also on weekly chart: a weekly close above this level could bring to an acceleration towards previous tops around 2100.
DEMARK neutral to bullish.
On spread Gold vs Eurostoxx that we analysed earlier, the spread has moved higher in the last few days and, we are stick to our forecast of 0,45, that would mean another 4 pct of relative performance between the 2 assets.
As we told in past weeks, this spread has been very strong already vs NASDAQ and SP500.