Tuesday, 27 March 2012

APR GOLD

Resist: 1702.70, 1714.80-1717.10, 1729.30*
Supprt: 1670.30-1668.40, 1661.80, 1652.50*
Comment: Monday’s thrust higher signals a bottoming turn and suggests follow through recovery rallies. A close over 1708.20 will boost a stretch to 1729.30* resistance. We may see dips back through Monday’s run to stage a secondary test of basing congestion in the 1650’s, but a close under 1652.50* is needed to rekindle bear trend forces for another drop against 1628.50* weekly support.

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