Gold continued to rally on bargain hunting yesterday following expectations that a low interest environment will eventually lead to inflation. Some comments from a Chinese official suggesting the country buy more gold in case of US dollar getting weaker also seemed to help the precious metal. After the World Bank's downward forecast for the global economy additional support came from a rise in US initial jobless claims. So unsurprisingly gold finished $6.80 higher at $939.15/oz.
The short term trend is bearish, the medium term trend is sideways while the long term trend is bullish.
Support: $929.25 (yesterday's low)
Resistance: $958.20 (high of 12/06/09)
Support: $912.70 (low of 23/06/09)
Resistance: $943.15 (high of 17/06/09)
Support: $904.65 (low of 08/05/09)
Resistance: $940.27 (yesterday's high)
9 day moving average - $933.45
14 day moving average - $938.25
40 day moving average - $939.72
Passionate and light sensual kiss all over you
11 years ago
No comments:
Post a Comment