Wednesday, July 1, 2009

GOLD Technical Bull Hypothesis 300609

GOLD Technical Bull Hypothesis 300609 [No Consensus available/Cannot go Bull as Bear trade still in contention]

Current territory: Bull
Current Main Momentum: Bull
Current Zone: Bull
Main Resistance Materials: US inflation control, traders selling-off, & lower price demand (Strong)
Main Support Materials: Constituents GOLD prior Overbought MM (Weak)
Issue: Price Consolidation Breakout Direction >

Valid observation:
• Possible bullish pivot point at <>938.12ish (Daily/H4)
• Stop loss <>931.78ish
• Possible price significant excess towards Target 1 at <>951.36ish

Risk to Profit ratio: 1:2
Consensus: Bull 1/2 bias

Disclaimer: Trading in the FOREX market & other forms of investments involves risk. This information should not AT ALL be viewed as investment recommendations. The charts & information provided here are not meant for investment purposes & only serve as technical examples.

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