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.
  • SILVER TREND UPDATE

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