Monday, October 17, 2011

Technical of oct 18 afternoon


GOLD (Spot) intraday: bounce.

Pivot: 1665.00
Our Preference: LONG positions above 1665 with 1683 & 1695 in sight.
Alternative scenario: The downside penetration of 1665 will call for a slide towards 1653 & 1646.
Comment: the RSI has just landed on a support around 30% and is reversing up.

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