October 8, 2010

GOLD: Support Resistance zone

CHART - II
  • Gold has closed above the resistance area mentioned below. Sustaining above 1350 can push prices higher again
GOLD HOUR CHART - I
  • Gold hour chart is getting resisted at 1343 levels.
  • 1343 is quite close to the 50 hour moving average. 
  • Yesterday it broke down below 50 hour moving average. So if it trades above 50 hour moving average and 1343 level hour can turn bullish again.
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