Fundamental analysis for precious metals gold - 11/19/2008

19 November 2008 @ 03:21 am EDT

Very narrow consolidation and several attempts to breach the resistance level that has shifted today to 744.35 where the metal failed to close below the 50% correction level in the above image on the four hour charts. The relative strength indicator is very neutral while the ADX indicator is showing very weak movements in both the upside and downside directions on the short term. As for the stochastic indicator it is currently being affected by the low volume trading!

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