March 7, 2012

GOLD Trend update

  • Gold daily chart will face selling pressure as long as price stays below 200 SMA.
  • Immediate resistance in hour chart is the Ichimoku cloud. A sustained up move will be possible only on a cloud break.
  • Hour chart also shows a bearish flag pattern. If the support line breaks we may see new lows in hour time frame.

1 comment: