Gold Technical View ...<http://nooreshtech.blogspot.com/2009/04/gold-technical-view.html> <http://3.bp.blogspot.com/_OzqzswgRyzE/SdTROk7-ytI/AAAAAAAAB0g/jzWPs1V4tSo/s1600-h/GOLDbreakdown0204.png> Just happened to check on to Gold as it seems there is an important move here. In the previous update had mentioned about 960 being a resistance for the upmove and may not cross 980 in short term. Gold made a high of around 965 odd and cooled of as expected. Also before that had mentioned about the crucial support around 880 which did hold up.
http://4.bp.blogspot.com/_OzqzswgRyzE/ScKASfviLzI/AAAAAAAAByA/MeFl2JwmDOM/s1600-h/Gold1903.png Current View : The last move below 900 might have trapped lot many shorts and we saw a quick move back to 960 as the channel was not broken and neither was our level of 880. Now this time around the channel has been broken clearly and a drop below 880 would spell doom for the gold diggers and expect a retracement of the entire upmove from 680-1000. Fibonacci levels of 50/61 % come roughly around 845 / 810. Strong technical supports placed around 800-820 zone. Could be a good short trade below 880 or on rise to 920 with a stop beyond 935. --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
