September 10, 2012

GOLD Trend update

  • Gold four hour chart shows it making newer highs without major corrections.
  • Daily chart is pausing at 78.6% Fib level. Breakout above 1741 should target levels like 1763 and 1790. Weakness only on sustaining below 1716 levels.
  • Weekly chart shows crucial resistance just above Golden ratio. Last two major attempts to move up has failed near this level.

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