February 7, 2012

GOLD Doji Week and Bearish Engulfing

  • Gold weekly chart shows a Doji Candle.
  • Daily chart has a bearish engulfing pattern.
  • Bearishness of both these charts will be negated on a breakout above 1763 as shown in the last chart. Four hour chart also shows possible support at the cloud. Breaking below the cloud will extend the down move in Gold.
  • EURUSD TREND UPDATE
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