Wednesday, December 12, 2012

GOLD Support Holding GOLD Trade
I am watching this area from past few sessions. Previous post [here].

This area has been constantly on-off as support/resistance. After a break up on thin Monday markets, area is providing support on every dip. But 100EMA is also coming just above the support and is restraining price. 

A break above 100EMA or below the support area will define next move. I will be on sidelines till then.

A break above 100EMA brings focus to upper horizontal area and falling trendline. A break lower bring focus to lower horizontal area.

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