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Posted 20 November 2006 - 10:16 AM
Tezi mandee has not yet covered an important cluster of investors who invest in commodities for example gold, silver, cotton etc.
Posted 01 April 2008 - 10:19 AM
If $920 is not honoured on closing basis then Gold still has tendancy to move down till $844. the same is also evident on weekly chart of 28 March 2008 the 61.8% Fib Retracement on daily chart is near the 38.2% Fib-Retracement level on weekly chart.
Neutral to Negative
Support 1 - $917, ---> 38.2 % Fib Retracement
Support 2 - $880, ---> 50 % Fib Retracement
Support 3 - $844, ---> 61.8 % Fib Retracement
Posted 06 April 2008 - 02:34 AM
It is obvious that the Monday's Gold market will be volatile. 38.2% Fib-Retracement ($917) is the resistance, Market is not in decisive tune. The pull back seems to be a technical pullback.
I am still anticipating atleast $844 to $855.
Monday's closing seems to be very important.
Support 1 - $880, ---> 50 % Fib Retracement
Support 2 - $844, ---> 61.8 % Fib Retracement
Support 3 - $800
I will like to buy some on its rebound on or near $800.