Thursday, October 20, 2011

GOLD Bullish Outlook, October 20, 2011

The spot gold prices, failed to move above the resistance level at 1701.50 dollars (weekly resistance), which limits the time to rise. Forex traders should note that a break below $ 1,594 could open the door to go back again, at least $ 1,530 in September and continue to fall to 1450 dollars an ounce.
However, this level of 1594 dollars in the price of gold, is a good point of enter for a bullish position, we are very vigilant because at this level may be a rebound, we must be careful about buying positions, can be increased positions as the price level to rise, the stop loss level, place it just below 1590 dollars an ounce. . Our short term goal we will place in 1755 dollars for an ounce of gold.

No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...