Gold Mid week Wednesday

Last weeks low at the lower dotted trendlines just before the currency intervention by the G-7 have kept gold firm all week long. Support is the 1395-1410 area on a weekly basis and 1417-1425 on a daily basis. Gold is approaching the old high at 1444 ----------a close above that area would suggest 1460-1480 as the next resistance. Additional resistance is the 1525 area. The trend remains up ---- but watch the 1444 area. Closes above there will suggest higher.

No comments: