May 17, 2012

GOLD Hour chart Analysis

  • Gold near 200 Hour SMA. Trading above 200 Hour SMA will turn the hour trend in favor of Gold bulls.
  • Gold testing 100 Hour SMA.
  • Price has crossed the hourly cloud. Next resistance on chart is near 1560 - 1565 level if this is taken out price may move towards 200 Hour SMA.
  • Unable to trade above 100 Hour SMA and 1565 may result in a sell off.

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