ZG support resist

Discussion in 'Commodity Futures' started by RXIS, Nov 23, 2006.

  1. RXIS


    I've been away from the markets for a couple of weeks Can someone please give me an update on ZG?

    I had support at about 624 and 619 with key support at 614. Resistance at about 638 and 645 and with key resistance at 658.6.
  2. it all depends on your time frame

    but after skimming a spot gold price chart

    I would say the near term resistance is within a dollar of todays highs
  3. Surdo



    We blew through 1.30 on EURUSD, why do you anticipate Gold to stop? I think we will consolidate on both and retest higher highs before Year End.

  4. I did not mean to suggest that the move ends at all

    only that the first line of resistance is nearby

    after todays huge gains there might be a pause

    ( which is what you also suggest )

    esp if the move was exaggerated by thin holiday conditions

    its a no brainer that if Euro rallies to 1.31 plus
    and crude oil and xau miners rally next week
    that gold take a look at higher levels of resistance
    $5-10 higher esp if silver marches to $14.00
  5. Surdo


    We be on the same page!
    Dec Gold looks a little tired between here and $648.
    I am a cautious contrarian myself.
    Enjoy your leftover turkey.