Monday, February 6, 2012

GOLD Daily Market Thought 07022012

GOLD like I suspect and tweet few time  last week, unable for now to break and hold above [1765,1775] area.
Today test and hold first major support at the daily sitting 1710 represent ema13 (daily) very good reference according with daily if you check last months.
Short-term 60m chart today test 1710 form bullish divergence, so all bulls need now is confirm reversal trend VST after hold major support. That can happen if close 60m above 1725 and more important above 1736 if bulls wow this battle expect push first to the last week high next attack 1800.
Bearish view ST( 60m) need to stay below 1725 and more important below 1736 win momentum downside below 1710 next supports area [1675,1682] below 1641-30 and 14.
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