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Video / 19 June 2015 at 6:32 GMT

Lambert: Why I don’t think gold rally will last

Clive Lambert - FuturesTechs
Clive Lambert from FutureTechs believes a rally in gold on Thursday, when prices went above USD 1200, is a selling opportunity and here’s why

Based on charts, Lambert says gold is unlikely to break above strong resistance at around USD 1202-05. Lambert is looking to sell at around USD 1200 with a stop above 1205 and his targets are USD 1176 and USD 1162.



4y
Gwen Gwen
This comment has been redacted
4y
Shamnighty Shamnighty
Hi Clive, I have entered the trade! Good luck to us!
4y
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
Shamnighty (and anyone else who is in this idea), I've just moved my stop to entry, FYI...
4y
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
First target at 1176 HIT. Cover half the position here.
4y
Clive Lambert - FuturesTechs Clive Lambert - FuturesTechs
By the way the second target on this trade has been achieved and the bears are still doing their thing. We think 1141 and 1131 will be tested in the coming days/weeks. 1131 is a really big level being the low/bounce from last November. Below here we'll be printing levels not seen since 2010. One thing's for certain, gold is not turning out to be any kind of safe haven in the current turbulent times...

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