Wednesday, October 3, 2012

20121003 1211 Gold Daily Chart Study.


Chart Reading :
Bollinger band reading : correction range bound upside biased market development.
MACD Histogram : falling lower, buyer profit taking.
Support : 1750, 1740, 1705 level.
Resistance :  1785, 1800, 1810  level.
Remark : Gold price having correction taking some rest after tested new high near 1793.85.
Idea : Long at support or break up above 1794, set stop loss at lower support level.

No comments: