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Gold, considered as the most bullish financial

Discussion in 'Forex Broker Discussion' started by honeyks, Dec 11, 2010.

  1. honeyks

    honeyks New Member

    Feb 26, 2010
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    by http://freeforexsignals.blogspot.com

    Gold, considered as the most bullish financial commodity in the last few years in general and in recent times in particular, has in the last two days hit the minor trend line that has been accompanying for about three weeks. Technically speaking, the line is not considered very strong and may be easily breached downwards, and yet the unusual momentum in gold hints that we should utilize the buy opportunity before us.

    A new wave of upwards movement is expected to push gold towards new records near the 1450-dollar resistance level. On the other hand, one may plan for a reverse scenario in which gold dives sharply towards its main trend line around 1270 United States dollars. In such a case, we shall await a daily close below the secondary trend line on gold, passing through the price level of 1345 United States dollars for one ounce of gold.

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