TECHNICAL ANALYSIS(Middy)
2012-04-04 08:42:35
Gold
Midday Report
Gold decline slightly, but the metal is still stable above 1666.00 and also above the support of 1673.00. These factors drive us to hold onto our positive expectations for the rest for the rest of the session today supported by the bullish 0-5 harmonic structure. Consolidation above 1690.00 strengthens our positive outlook.
The trading range for today is among the key support at 1624.00 and key resistance now at 1735.00.
The short-term trend is to the upside with steady weekly closing above 1475.00 targeting 1945.00.
***New York Candlesticks***
Support | 1666.00 | 1662.00 | 1654.00 | 1650.00 | 1638.00 |
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Resistance | 1681.00 | 1690.00 | 1694.00 | 1700.00 | 1703.00 |
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Recommendation | Based on the charts and explanations above our opinion is buying gold around 1673.00, targeting 1690.00, 1694.00 and 1709.00 and stop loss with 4-hour closing below 1654.00 might be appropriate. |
TIME | |||||
---|---|---|---|---|---|
Sydney | Tokyo | Ha Noi | HongKong | LonDon | NewYork |
Prices By NTGOLD | ||
---|---|---|
We Sell | We Buy | |
37.5g ABC Luong Bar | ||
5,343.50 | 4,923.50 | |
1oz ABC Bullion Cast Bar | ||
4,440.10 | 4,040.10 | |
100g ABC Bullion Bar | ||
14,192.20 | 12,942.20 | |
1kg ABC Bullion Silver | ||
1,702.50 | 1,352.50 |
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