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Gold
2012-02-09 14:05:54

Morning Report

gold09

The metal is currently trading in areas around 1735.00, but it is still trading within the same range below 1763.00 and above the ascending main support shown above in pink. Stochastic attempts to turn positive, but RSI is negative, while the strength of the upside move is weak as seen on ADX. Therefore, we remain neutral in our morning report, awaiting further confirmations.

The trading range for today is among the key support at 1706.00 and key resistance now at 1794.00.

The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.

Previous Report

Weekly Report



Support 1724.00 1718.00 1711.00 1706.00 1702.00
Resistance 1742.00 1750.00 1754.00 1763.00 1768.00
Recommendation Based on the charts and explanations above, we remain neutral awaiting more confirmations

 



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