| Log In | Register Now
Weekly Report 06/09 -10/ 09/ 2010
After touching the lower line of the ascending channel that carries the suggested IM wave from 1156.00 zones, gold inclined once more, suggesting the above seen internal count. We see that, the internal second wave of the bigger five has been completed and thus, potential upside actions could be witnessed during this week. A break of 1255.00-1258.00 could add further strength to the bullish rally and whilst SMA 50 is presently protecting our Elliott scenario.
The trading range for this week is among the key support at 1210.00 and key resistance now at 1277.00.
The general trend over the short term basis is to the upside, targeting $ 1365.00 per ounce as far as areas of 1120.00 remain intact.
Previous Report
| Support | 1237.00 | 1232.00 | 1228.00 | 1222.00 | 1219.00 |
| Resistance | 1249.00 | 1252.00 | 1255.00 | 1265.00 | 1274.00 |
| Recommendation | Based on the charts and explanations above our opinion is, buying gold around 1242.00 targeting 1274.00 and stop loss below 1222.00 might be appropriate. | ||||
Who Is Paul McCartney Trends on Twitter; Users Wonder Why
Dad Shoots Laptop Video Goes Viral on YouTube After Daughter’s Facebook Rant [VIDEO]
Free Edition
TAKE A TOURWe value your privacy. Your email address will not be shared.
