Monday, November 29, 2010

Gold

Acute trades that took place yesterday were not a reason to see confirmation of a consensual scenarios over the other and that was clarified in the report and the weekly report yesterday. If we look at a classic price move, we will see that it is still rising above the main support shown in the picture, as well as the price settles above the moving averages of 20 and 50, which may likely upward trend during the trading day, provided the stability of trading above the level of $ 1330.00 an ounce.
The trading range for today is among the key support and resistance level at 1320.00 1395.00
The short term trend upward towards the top targets at the level of steady levels of 1400.00 1120.00



Support 1350.00 1348.00 1345.00 1339.00 1330.00

 
Resistance 1358.00 1365.00 1372.00 1385.00 1388.00

Recommendations Based on the above chart we believe that buying gold on 1350.00 and 1385.00 when profit and stop loss to close four hours under 1330.00 may be appropriate.






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