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Gold Market Update - 4th Oct

4/10/2012

1 Comment

 
After a very quiet day of trading yesterday, gold is again attempting to break through resistance at 1780 and must hold above it this time.

The "flat topped triangle" pattern on the chart appears to breaking out to the upside, as is usually the case with this chart pattern, though until gold can break to new highs above 1794 and hold the gains, we will not have confirmation.

Today's video looks at the impact of the oil price on gold recently and the short term chart pattern that is developing.
1 Comment
Dwarkadas Agarwal
4/10/2012 02:07:37 am

The upper levels of the current range i.e 1781-1787-1791 and above are not susstainnig as of now , a close above 1802 will give strenght and close below 1772 will might be open doors for more downside this time ...

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