Tuesday, 14 February 2012

APR GOLD APR GOLD


Resist: 1736.70+, 1750.80, 1766.70
Supprt: 1714, 1707.30-1706.30, 1696.60*
Comment: The market remains in a bull trend, but needs to post a close over 1741.50 to rekindle bull forces and motivate rallies to again attack resistance up around 1766.70. A breakout over 1766.70 is needed for fresh bull moves to 1789.80-1799.80. The pullback last week still favors flagging congestion that may extend for a few days. A drop off under 1706.30 calls for harder corrections and close under 1696.60* will send bearish trade to test support back around 1669.00*.

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