GOLD; this week outlook > range band

Discussion in 'Metal Futures' started by simpletrader, Oct 1, 2002.

  1. Morning price high of 325.50 would be the resistance for the rest of the week ... look out for any "abrupt" price behaviour tomorrow.

    Short term prices would be in congestions ... after which it would likely resume its uptrend ....
    Upside break of 325.50 resistance would be bullish; especially when it occurs next week .... when it occurs this week....327.95 would be its immediate cap ....

    Negate Uptrend only when 319.65 failed....

    This week Trade Band likely from 325.50 to 319.65 ...
    Uptrend momentum still intact as long above 319.65 ...
    Those who had long positions may put stop-loss only when 319.65 level failed.

    Unless today's high break; it would be more interesting next week ... As failures to break today's hi of 325.50 would trapped prices in congestions for this whole week ...

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