Tuesday, 7 February 2012

APR GOLD


Resist: 1740.20, 1746.00*+/-, 1766.70
Supprt: 1714.30, 1707.50-1706.50, 1696.50*
Comment: Bull trend trade has found resistance up around 1766.70 and Friday’s reversal / Monday’s selloff alerts for a near term turn to corrections for several days. Be ready for a drop around 1706.50, but only a close under 1696.50* will reverse trade to test support back around 1669.00*. Residual bull forces may left trade inside Friday’s range for 1-2 days, but a breakout over 1766.70 is needed for fresh bull moves.

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