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Friday, October 7, 2011

GOLD COMEX WEEKLY TREND/LEVEL/TRADING STRATEGY INITIATED FOR PREMIUM MEMBERS

show details Oct 2 (5 days ago)

Gold Weekly Trading Levels :

BEST BUY & SUPP IS @ 1588 ACTUAL RESISTANCE & BEST SHORT LEVEL @ 1622.10 A BREAK ABOVE 1645 UPSIDE TGT IS 1705/1731.80/1765.70 ; A CRACK BELOW 1576 DOWNSIDE TARGET 1520/1478/1444.60

Weekly Trend :

STRONG BEARISH & ANY PULL BACKS IN BETWEEN IS VERY LIMITED..

MAJORITY OF INDICATORS HAS BROKEN THE SUPPORT CHANNELS..& 1 INDICATOR SLOW SCO IS TRYING TO HOLD..SO WE ARE SEEING MILD PULL BACKS,,BUT END OF THE DAY EVEN THAT INDICATOR WILL ALSO GIVE UP COZ IT HAS NO POTENTIAL TO REVERSE THE TREND

Daily Trend :

BEARISH WITH BULLISH STREAKS..FAST SCO HOLDING ABOVE SUPPORT ZONE & SLOW SCO LOOKS THE SAME..CCI HAS BOUNCED BACK FROM THE BOTTOM & ALREADY FACING RESISTANCE..

Trading Strategy :

SELL ON ALL RISES ..THE CHANCES ARE SLIM FOR GOLD TO BREAK OUT ABOVE 1645 BUT IF DOES THEN DNT WAIT FOR 1720 OR ABOVE TO BUILD SHORTS RATHER TAKE POSITION IF GET 1680 – 1705

CMP - 1625

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