Gold Trend! 16-01-2012
Technical:
R2=1661.81
R1=1649.58
PP=1637.37
S1=1625.14
S2=1612.93
Buy gold above $1641 next upside target will $1650,$1663 and $1675. If gold breaks $1635 selling is recommended downside targets will $1627,$1614 and $1605.
Fundamental:
Gold quit a 3-day winning streak last Friday on strength in the U.S. dollar spurred by concerns over Europe credit, but gained for the week as data showed strong Chinese demand for the precious metal. Gold prices should be higher this week. Gold is still in a bull market, but right now stance is neutral.
By
M.Zohaib Gadit
Forex Trading Consultant
Technical:
R2=1661.81
R1=1649.58
PP=1637.37
S1=1625.14
S2=1612.93
Buy gold above $1641 next upside target will $1650,$1663 and $1675. If gold breaks $1635 selling is recommended downside targets will $1627,$1614 and $1605.
Fundamental:
Gold quit a 3-day winning streak last Friday on strength in the U.S. dollar spurred by concerns over Europe credit, but gained for the week as data showed strong Chinese demand for the precious metal. Gold prices should be higher this week. Gold is still in a bull market, but right now stance is neutral.
By
M.Zohaib Gadit
Forex Trading Consultant
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