Wednesday, 8 February 2012

APR GOLD


Resist: 1757.50, 1766.70, 1789.70+
Supprt: 1727.30-1723.40, 1712.90, 1696.50*
Comment: The market remains in a bull trend and may again attack resistance up around 1766.70. A breakout over 1766.70 is needed for fresh bull moves to 1790-1800. If trade has trouble push beyond 1766.70+, then be on guard for a slip back into further sideways flagging congestion for a few days. A drop off under yesterday’s low marks a near term turnover for corrections around 1706.20, but only a close under 1696.50* will send bearish trade to test support back around 1669.00*.

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