Morning Report Click on the image for a larger view The daily
chart shows that gold has come back into trading range between
61.8% and 76.4% Fibonacci retracement of CD leg for the bearish
harmonic structure. Coming beneath 61.8% at 1505.00 has negated
yesterday's expected bullishness. Now, Stochastic is showing
positive tendency; whilst RSI is fluctuating below 50.00; thus, we
prefer staying aside over intraday basis. The trading range for
today is among the key support at 1492.00 and key resistance now at
1525.00. The general trend over the short term basis is to the
upside, targeting $ 1600.00 per ounce as far as areas of 1430.00
remain intact with weekly closing. Previous Report Weekly Report
||Based on the charts and
explanations above our opinion is, staying aside until a
clearer sign appears to pinpoint the upcoming big move.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.