Gold Daily Update – Tuesday 03 November 2009
Posted November 4, 2009on:
Gold opened at 1061.25/1062.25 and slipped as the session got underway, reaching an intraday low of 1054.75/1055.75. Despite moderate dollar and equity market activity, gold shot up mid-morning, triggering stops, before losing steam at the resistance level of 1080. As the session continued, good buying pushed the market higher reaching an alltime high of 1086.25/1087.25. Profit taking pushed the metal down to close at 1084.25/1085.25.
Gold moved to fresh record highs today to current 1086, from yesterdays close at 1062. The metal has taken out our topside resistance at 1067 and 1070 triggering stop loss buying. The focus has returned to the topside in Gold with measured target 1106. Look for support now back near former resistance levels.
Pivot – USD1,076.10
Primary Support (Buy) – USD1,064.40
*BUY = Buying more Gold to Maximum your investment.
Primary Resistance (Sell) – USD1,096.80
*SELL = Selling your GOLD investment to gain Profit.
When you signup for PayPal, you can start accepting credit card payments instantly. As the world’s number one online payment service, PayPal is the fastest way to open your doors to over 150 million member accounts worldwide.
Best of all, it’s completely free to sign up!