Tuesday, November 1, 2011

GOLD technical of Nov 1 afternoon


OLD (Spot) intraday: the downside prevails.

Pivot: 1728.00
Our Preference: SHORT positions below 1728 with 1695 & 1678 as next targets.
Alternative scenario: The upside breakout of 1728 will open the way to 1752 & 1765.
Comment: the RSI is capped by a bearish trend line.

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