September 7, 2012

GOLD Fibonacci Fan

  • Gold daily chart with Fib Fan shows price getting resisted at 78.6% Fib line.
  • Unable to close the week above the cloud may result in a fall towards breakout level again.
  • Previous support line which is broken may act as resistance and a bearish candle at this stage should favor bears for a correction towards breakout level.
  • Gold bulls need to close the week above the cloud to avoid the above mentioned correction.
  • S&P 500 ANALYSIS AFTER CLOSE

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2 comments:

  1. nifty.senseSeptember 7, 2012 at 11:40 AM

    dear san... great display....

    sir gold mcx also touched its resist. trendline ...also it is expected gold to close arud. 31000 level on satur. ( for perfect reversal )....

    u can watch chart ( gold , jspl , idfc )

    http://niftysense.blogspot.in/

    ReplyDelete
  2. SanSeptember 7, 2012 at 12:29 PM

    Thanks nifty.sense
    Your resistance line looks good.

    ReplyDelete

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