Tuesday, March 10, 2009
Gold price hit our target of 924 dollars per ounce gold nicely as forecasted. Our forecast for gold price was accurate as gold price even broke 924 support level and touched 912 dollars per ounce gold support level. Hope everyone got another series of profit booking. Today's forecast for gold is gold price will touch about 890 dollars per ounce gold. But mind you, those levels are again going to throw prices back rapidly. Sell gold but with caution at lower levels. If the gold price manages to go close to 890 levels and retrace, don't forget to buy as much gold as you can. The gold is forecasted to change the trend around this level.Next target for gold is 890 dollars per ounce gold
Today's oscillation for gold is 920 dollars per ounce gold to 890 dollars per ounce gold
Trend: Down
CAUTION: Don't sell gold below 900 dollars per ounce gold. That is the red zone!
Have a close look at stock market prices. Specially DOW index or DJ Index.
Have a close look at MACD indicator at 1 hour gold chart and 4 hour gold charts. See whether this indicates end of the bearish trend. Have ichimoku clearly indicate the position to buy gold. Have a close look at stochastic oscillator before deciding. Although the price goes to these levels, the gold price will not jump instantaneously. You can wait until the indicators show you the correct trend for gold. Look all technical indicators for accurate forecast
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