MARKET TALK:

Comex Feb Gold Set For Gains To $1784.4/oz


Comex February gold is set for gains to $1784.4/oz, as
Friday's strength pushes into fresh two-week highs above $1758.0. The ability
to negate Thursday's bearish candle underpins Wednesday's powerful break
through $1724.9, and the $1784.4 target is a 1.618 Fibonacci extension
projection. An opportunity to upgrade the short-term rally off the November 21
reaction low at $1670.5 would coincide with the daily MACD trend indicator
pushing above the zero line into bullish territory, opening $1799.5 and the
November 8 reaction high at $1806.6. Comex February gold is at $1754.4/oz. -
By Francis Bray, Dow Jones Chief Technical Analyst For Europe.