September 19, 2011

GOLD Falling Wedge

  • Four hour chart of gold shows a bullish reversal pattern
  • Daily chart shows price testing 50 Day moving average. This is the second test of this moving average in a short span of time. So if this average does not hold then we may see bigger correction in gold.
  • Price getting support here may give good upsides and a breakout from the falling wedge pattern.

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