Gold Technical Analysis 8th july 2009

Gold has been trading Sideways to lower Range In a descending bearish triangle , For past couple of Days . Comex Gold is Finding Support at 920$ , While Facing Stiff Resistance at 934$ & 945 $ Levels, We Expecting Gold to Move Downwards today breaking the Support of 920$ below Which could test 915 $---902 $ , Those holding postional Shorts May maintain 935$ as SL for 4 Hour Closing basis

Gold Technical Analysis 6th July 2009

Gold for past 3 Weeks has been trading in small range of 920 -945 $ . Looking at the weekly charts it has formed a lowertop and bearish Candlestick pattern -- the harami Which is a Strong short term Reversal pattern . At Same time the Momentum trend Line From 681$--to Recent High of 1007 $ is giving Supports at 922 $ , Currently it has Breached Same in intraday . A Close Below 913 on weekly Basis would Confirm the Breach and Could Open possible Downside trgts of 902 ( Interim Good Support) & below that 888 $ . Postional traders Can Look to Short gold at Current Levels With Nearest SL at 938$ & safe one being at 946$

Gold Technical Analysis 6th July2009

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Gold Technical Analysis 29th June 2009

Gold Intraday Charts showing multiple support in the range of 934 $

on breach on if Range traders Can take short below that For possible trgts of 927--925 ,

Above 941 Shorts May get catious , Can do 943--948 again

Gold Technical Analysis 22nd june 2009

Gold is reacting negatively to the inflection point of our 2nd and 3rd tier uptrend lines. The swift pullback in gold follows a week of tight consolidation, signifying investors are siding with the downside after a period of indecisiveness. We believe today's movement to the south could be a game-changing statement with a retest of the highly psychological $900/oz likely. today's pullback hasn't been accompanied by abnormal volume thus far, so we will have to see how the session pans out. However, gold's downturn certainly raises a red flag, and we wouldn't be surprised to witness another near-term leg down.

Present Price: $919.85/oz

Resistances: $927.40/oz, $931.41/oz, $935.62/oz, $939.82/oz, $941.94/oz

Supports: $923.96/oz, $920.95/oz, $917.49/oz, $914.99/oz, $911.14/oz

Psychological: $950/oz, $900/oz