December 14, 2011

GOLD Support Levels

  • Gold moving towards its 50 Week Moving average.
  • Price breaking below 50 Week SMA will lead to the support line of the channel.
  • Only if price breaks the channel support line the bullish structure of gold will get tested. For bulls of Gold the channel should hold to avoid a bigger correction.
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2 comments:

  1. sammyDecember 14, 2011 at 11:17 PM

    San,
    Dollar pullback ?
    http://markethighsandlows.wordpress.com/2011/12/14/mid-day-report-daily-sp/

    ReplyDelete
  2. gaurangDecember 14, 2011 at 11:23 PM

    Gold chart a very descent long term uptrend but now it looks tired.But better trade as per channel rather than emotion.

    ReplyDelete

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