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Fundamental analysis for precious metals gold - 7/21/2008

21 Jul, 2008 @ 03:51 am EST

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A correctional pattern to the downside which resides within the weekly upside basis is what's affecting gold, and when this correction ends we will notice a strong positive pattern for the precious metal. We should notice that the support levels of 950.00 and 949.00 are very critical for the short-term upside wave and as far as they remain intact the upside will remain valid targeting 990 per ounce.

The trading range for today is expected to range among 990.10 resistance level and 941.50 support level; meanwhile the general trend remains to the upside targeting 983.00 and 1016.00 as long as 730.00 remains intact.

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