Gold

This is currently finding support at the 123.60% extension of move from 1796 to 1672 = 1602. Could either bounce from here or plumb the depths... and I do mean the depths....way down....poss 1300.

I wont go long ether on gold as its clearly broken to the downside.Its broken the trend line with ease.
Theres no real strong support near by



This went straight through the 61.8 fib that supported this last time so id expect a full correction of 100% now.That level is 1527 so have your longs ready for a first attemt at 1527 with tight stops.

close up


dyor

Jackozy wrote: I personally wouldn't now consider going long on Gold until 1525. That's a really important support IMHO.

Food for thoughts!

I wonder, would this make Gold a good candidate for a cheeky short?

I personally wouldn't now consider going long on Gold until 1525. That's a really important support IMHO.

Hi
This is some TA on gold:

www.clivemaund.com/article.php?art_id=68

This guy uses commercial direction in addition to TA.

Gee

There is some support at or around 1590,

dl.dropbox.com/u/43650856/Gold%20Daily%20-%2015th%20Feb.htm


Maybe I will try a buy in that area..