August 28, 2013

GOLD Support and Resistance levels

  • GOLD One hour chart shows price making new high's above the rising support line.
  • But Monthly charts are fast approaching crucial resistance levels which has to be crossed for extending this up move.
  • Between 1435 and 1450 Price has to cross 50 Months SMA and 38.2% Fib level which were broken during the previous down move. So this zone may act as resistance. Daily close above this zone will make gold bulls stronger.
  • CRUDE Oil testing the breakout

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