Jan 29, 2010

FX Path

FX Path

Gold - At Critical Support

Posted: 29 Jan 2010 08:09 AM PST

Gold Daily ChartRecent bearish price action on spot gold, a daily chart of which is shown, has descended all the way down to key support around the 1070 price region, forming a tentative double bottom matching the late December low. In the process, price has also reached down to an important uptrend support line that has defined the gold uptrend for at least well over a year. For more technical analysis on gold, please click here for Friday’s (1/29/2010) Chart of the Day.

- James Chen, CTA, CMT

* For information on my DVD set, High-Probability Trend Following in the Forex Market, please click here.
* For information on my book, Essentials of Foreign Exchange Trading (Wiley), please click here.
posted by

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)