Monday, December 10, 2012

Gold Technical Chart | 10-Dec-2012

Below is the technical chart of Gold, using Ichimoku and Doda-Donchian indicator.

Gold Technical Chart
Gold Technical Chart

Gold is currently trading near $17053.93. If it manages to stay here, it will begin its bull run of the week from here. It's main resistance for the week is $1705.47. Above this level, buy Gold. Below this level, do short selling.

On the downside, 1703.71 to 1704.75 is the support band and $1685 has become major support level of the month.

On the upside, watch the level of $1720 for some resistance.

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