July 27, 2013

GOLD Weekend update

  • 4 Hour chart shows the steady ascent of gold above Ichimoku cloud.
  • But Daily chart shows price testing the cloud. This has acted as strong resistance level recently.
  • Last chart shows price managing to close above 50 Day SMA. So for next week weakness can be seen on daily closing below 50 Day SMA. Price sustaining above 50 SMA may lead to higher levels in gold.

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