As a result of funds coming back to the market gold moved sharply higher yesterday effectively denying the previous few days correction. The move was also helped by rallies in the Euro vs the US dollar and crude oil combined with technical trading. So gold gained 13.30 pound to settle at $959.80/oz with the chart showing good support offered by the 9 day moving average. All M.A. remain bullish and the next upside challenge the high of Mar 20th at $967.00 is now within reaching distance.
The short and long term trends are bullish while medium term trend is sideways.
Support: $944.00 (yesterday's low)
Resistance: $974.22 (high of 17/02/09)
Support: $935.55 (low of 21/05/09)
Resistance: $967.00 (high of 20/03/09)
Support: $929.60 (low of 06/03/09)
Resistance: $964.95 (yesterday's high)
9 day moving average - $949.82
14 day moving average - $940.99
40 day moving average - $909.32
Passionate and light sensual kiss all over you
11 years ago
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