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Gold Market Update - 25th Oct

25/10/2012

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Gold continued to fall yesterday and tested 1700 as we were expecting.  The market found support at the round number and has recovered this morning.

It is possible that a low is in for this correction, though we need to see more evidence of a bottom before we look at a long position.  Resistance will be found at 1718, 1730 and 1755.

Today's video looks at some signals that we use to indicate whether a bottom is in and levels we consider key for confirmation of a bottom.
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UK Gold Trading Experts (UKGTE) is a trading name of Drupac Limited, a company registered in England and Wales (company number 09167819) whose registered office is 1 St. Paul's Square, Birmingham, B3 1QU.