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Lambert: Time to look at gold again
Gold has recently seen a significant sell-off, says Clive Lambert from FuturesTech. While the precious metal was looking to test 1200 just a few weeks ago, on Thursday it almost tested 1100.
Lambert thinks gold is now looking a little oversold and he says 1100 is a strong area of support, attracting buyers in September and October. He believes that the recent sell-off was fast so wonders if it's time for a bounce.
He notes that this Friday's nonfarms payrolls make predictions difficult but he is looking to:
Buy: Above 1111-1113
Targets: 1125 and 1136
Stop: Below 1106
01:05 minutes
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