2012-03-19

The Gold Price is Trapped Between $1,640 and $1,665 One Way or Another this will Break This Week

The Gold price shuffled down $3.60 to $1,655.50 last week closing. Now that doesn't look like much of a performance, but the sellers attacked about the time New York opened on last Friday and drove gold clean down to $1,640. But gold climbed right back to $1,664.70, leaving a clean V-reversal behind. Problem remains that gold did not exceed last Thursday high at $1,665.60 and indeed gave a little ground.

Thus $1,640 shapes up as strong support, but $1,665 as tough resistance, and like that little steel sphere in a pinball machine, gold seems trapped. One way or the other this will break this week.

0 comments:

Related Posts Plugin for WordPress, Blogger...

KLSE Info Zone

About This Blog

Malaysia Gold Investment

I found Gold Investment in Malaysia is a vary good tools to make profit when the market is down. I also found that Gold Price go up and down more slower compare to share market so to make money in long term, Gold is the right tools. This blog is all about Malaysia Gold Info and the way to make profi

Blog Malaysia

BlogMalaysia.com

  © Free Blogger Templates 'Greenery' by Ourblogtemplates.com 2008

Back to TOP