Commodity Technical Outlook - PowerPoint PPT Presentation

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Commodity Technical Outlook

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GOLD: While Gold’s nearer term bias remains to the upside as the commodity continues to strengthen, a convincing violation of the 1,641.25 level, its Dec 21’2011 high is required to pave the way for further upside gains. – PowerPoint PPT presentation

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Title: Commodity Technical Outlook


1
Thursday, 05th of Jan, 2012
COMMODITY TECHNICAL OUTLOOK
GOLD
FXTechstrategy Team
info_at_fxtechstrategy.com
GOLD Strengthens On Corrective Recovery, Eyes
Key Resistance. GOLD While Golds nearer term
bias remains to the upside as the commodity
continues to strengthen, a convincing violation
of the 1,641.25 level, its Dec 212011 high is
required to pave the way for further upside
gains. This will push the commodity further
higher and then target the 1,677.35 level, its
Dec 132011 high where a violation will set it up
for a move towards the 1,762.50 level. Further
out, the 1,802.75 level, its Nov2011 high comes
in as the next upside resistance. Its daily RSI
is bullish and pointing higher suggesting further
gains. Alternatively, the risk to our analysis
will be a return to the 1,522.55 level, its Dec
2011 low. This if it materializes will open the
door for additional weakness towards its psycho
level at 1,500.00. All in all, Gold continues to
hold on to its strengthen on corrective
recovery. To read the full version of this 7
model currency analysis click here FXT Technical
Strategist Plus
www.FXTechstrategy.com Providing
Balanced Independent Research
2
This report is prepared solely for
information and data purposes. Opinions,
estimates and projections contained herein are
those of FXTechstrategy.com own as of the date
hereof and are subject to change without notice.
The information and opinions contained herein
have been compiled or arrived at from sources
believed to be reliable but no representation or
warranty, express or implied, is made as to their
accuracy or completeness and neither the
information nor the forecast shall be taken as a
representation for which FXTechstrategy.com
incurs any responsibility. FXTstrategy.com does
not accept any liability whatsoever for any loss
arising from any use of this report or its
contents. This report is not construed as an
offer to sell or solicitation of any offer to buy
any of the currencies referred to in this report.
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