Sunday, February 13, 2011

Gold Daily Last Few Days Doji's S/R

Gold daily over last few days; 1363.5 is critical S/R over last four days. 1368 provided the intraday top resistance.  Two doji candles over last three days so a need for confimation is required. Friday sees a bull bear fight but the candle ends the day on the low side favoring the bears and reinforcing the trend change signaled by the doji's. Tomorrow will further verify the move down. If not, than the test of that 1363.5 area will occur once again and that reaction will determine the next response, either up to test 1368, or down again to try 1355.  Friday it tested the 1355 support and came up off it a wee bit to close at 1356. Watch 1355, if it fails tomorrow then gold should start selling off again. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.

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