May 9, 2012

GOLD Violates long term trend line

  • Gold Weekly chart is violating the long term support line
  • Bears of gold need a close below this line for a continuous down move to happen
  • Price is also nearing the weekly support line which is crucial support, 1522 is the next crucial level that has to be broken for a bigger down move to happen. 


By at

2 comments:

  1. mynacMay 9, 2012 at 4:01 PM

    Dear San,
    The above chart is very much hopeful for equity market is my understanding...

    Should I interpret this in that line?

    ReplyDelete
  2. SanMay 9, 2012 at 4:08 PM

    @mynac
    Normal correlation of gold is not working this time as both are falling at the same time.

    ReplyDelete

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