Posted by: Babu Suresh | March 23, 2009

Spot-Gold-Analysis-23-Mar-09

Spot-Gold-4H-ChartsSpot_Gold_H4_Chart_23-03-09

Hi Folks,

My 19th resistance, $958 is still holding strong after a spectacular rally on 18th instant. Considering the chart pattern, price action as well as other related issues, I feel she is unable to find any meaningful direction; which only tells me that while long bulls are waiting for something to unwind their positions, short bulls are slowly and steadily building up their shorts.

My supports are $934 and $924 while my resistances $958 and $972.

Healthy And Wealthy Trading

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