Remain on sidelines on trading gold

Thursday, March 5, 2009

Absolutely glorious day yesterday for gold sellers above 920 dollars per ounce gold. The as price just touched 920 dollars per ounce gold and went for 900 dollars per ounce gold. Hope everyone had a handful of profit selling the gold. The forecast for gold today is to remain in sidelines. Since the price has touched the key psychological level of 900 dollars per ounce gold, market can jump anytime, but 890 dollars per ounce gold is still likely. This may be a buying opportunity for short trend aggressive gold traders. Don't hold position for a long time. The price might go up for short time to the resistance level of 932 dollars per ounce gold to 942 dollars per ounce gold. Be cautious in trading gold today.

Next target for gold is unsure.
Today's oscillation: 925 - 890

CAUTION: Avoid long positions. Wait for the market move