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Gold Friday, 23/12/2011 - Morning Analysis
The metal is now stabilized above pivotal support at 1603.00, which represents the level of a full correction of the CD leg of the model harmonic bearish AB = CD, as is obvious on the daily chart. In the meantime, try to Stochastic intersection is negative, which may Asaadj metal to reach the levels mentioned before, and that in the way for the resumption of the downward trend to reach more of the technical goals protracted form of flour, which helped us to propose a wave of bearish for the metal since it has values at levels 1703.00. However, should the levels of 1640.00 to protect the stability of this negative scenario.
The trading range for today is among the key support and resistance level at 1533.00 1653.00
The general trend in the short term upside targets at 1945.00 dollars an ounce, trading consistently above the level of 1475.00.
Support 1603.00 1590.00 1582.00 1575.00 1559.00
Resistance 1615.00 1620.00 1628.00 1635.00 1645.00
Recommendations Based on the chart above we believe that the sale of gold without the 1603.00 and 1540.00 in profit and stop loss above 1645.00 might be appropriate.
The metal is now stabilized above pivotal support at 1603.00, which represents the level of a full correction of the CD leg of the model harmonic bearish AB = CD, as is obvious on the daily chart. In the meantime, try to Stochastic intersection is negative, which may Asaadj metal to reach the levels mentioned before, and that in the way for the resumption of the downward trend to reach more of the technical goals protracted form of flour, which helped us to propose a wave of bearish for the metal since it has values at levels 1703.00. However, should the levels of 1640.00 to protect the stability of this negative scenario.
The trading range for today is among the key support and resistance level at 1533.00 1653.00
The general trend in the short term upside targets at 1945.00 dollars an ounce, trading consistently above the level of 1475.00.
Support 1603.00 1590.00 1582.00 1575.00 1559.00
Resistance 1615.00 1620.00 1628.00 1635.00 1645.00
Recommendations Based on the chart above we believe that the sale of gold without the 1603.00 and 1540.00 in profit and stop loss above 1645.00 might be appropriate.
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