Friday, it took support at $1310 and rallied to $1346 before coming down to $1335.
Reco: Short Gold below $1345 for the above targets with stop loss $1355.
Saturday, January 29, 2011
GOLD in Downtrend
Gold is currently following a down-cycle as depicted in the chart. $1310 seems to be a very good support but on Monday (Jan - 31 - 2011) if it breaks the support, its a good candidate to short for a target of $1295 and the next target of $1265.
Friday, it took support at $1310 and rallied to $1346 before coming down to $1335.
Reco: Short Gold below $1345 for the above targets with stop loss $1355.
Friday, it took support at $1310 and rallied to $1346 before coming down to $1335.
Reco: Short Gold below $1345 for the above targets with stop loss $1355.
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