Gold remains capped ahead of the 200-WMA coming in around the $1437.6 level today. Daily and weekly slow stochastics continue to look to correct from oversold levels following the sharp move lower last week and are likely to be providing a little support. Initial support is seen at yesterday’s low with a close below needed to kickstart downside momentum. I continue to favour a $1310-1523 range for the coming weeks with the 200-WMA seen as somewhat pivotal within that range.
