Saturday, November 13, 2010

Gold on 13-11-2010 (Sat)

Followup on my Gold posting on 5-11-2010 (Last Friday)

Gold has hit my 3L target of 1421 region and doing correction for the remaining of the week.

Gold has closed at 1367 and this is the first sign of weakness (closed below Z1 line).

If gold maintain below this level and continue to downward movement and break the BKO of 1365, followed I would short gold and ride for 2 weeks.

Following Supports: 1349, 1319, and 1315.

New! 14-11-2010 (Sun)

I am looking at Gold to retrace to 1,335:
1) PW trader can consider the inner wave from Top (1424)
2) Gold trend up from July-10 (1157), refer Daily Chart, if Gold is going to continue up trend, this correction is imminent! If we use Fibonacci retracement theory, Gold is likely to find its 1st support near 1,335.

For those who wants to know what is PowerWave (动力波浪), you can contact my most supportive + most professional mentor JC at +6016 280 2227 to catch our next workshop or join our upcoming seminars!

Ayumi, the novice Trader

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