Markets

Gold Technical Precious Metals (2011-06-29)

Morning Report Click on the image for a larger view Yesterday's incline is still trapped between 61.8% and 76.4% of CD leg for the harmonic structure that could be a bearish Bat pattern. Trading between 1505.00 and 1492.00 makes the sideways dominating the movements for the time being. We will be neutral fortoday until we get clearer technical signs. The trading range for today is among the key support at 1474.00 and key resistance now at 1532.00. 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

Support 1492.00 1488.00 1480.00 1477.00 1474.00
Resistance 1505.00 1513.00 1525.00 1532.00 1537.00
Recommendation 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 Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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