Friday, October 26, 2012

Gold Setting Up For A Rally. Buy On Dips 2012-10-26

Technical Outlook and Chart Setups:
Believe it or not, gold maybe setting up for an aggressive rally taking out resistances lined up higher. The bottom line is 1,690.00 and it should be held. Looking into the chart story for the last 24 hours; the yellow metal raced through 1,715.00 level during the present retracing. The lows are being held well till now and a positive/constructive reaction is expected. Immediate bullish target for gold is 1,730.00 level by today or Monday. It is further emphasized that 1,690/95 levels should be held for this count to be true. Bullish for now.
Trading Recommendations:
Hold long positions taken earlier. Stop at 1,680.00. Target open.
Good Luck!
Related Posts Plugin for WordPress, Blogger...