Wednesday, 22 February 2012

APR GOLD

Resist: 1766.70, 1789.90+
Supprt: 1729.30-, 1716.30, 1696.50*
Comment: Yesterday’s surge higher signals a bull upturn / breakout from recent flagging congestion and calls for rallies to attempt another bull wave to higher prices. Look for rallies to attack resistance up around 1766.70. A breakout over 1766.70 is needed to spark bull moves to 1789.90-1799.80. Any corrective dips should now hold along recent congestion levels. Only a drop off through 1716.30 alerts for selloffs to attack 1696.50* for a reversing turnover.

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