Friday, January 7, 2011

Gold on 7-Jan-2011 (Fri)

Market has showed little support near 1363 and it is likely to continue its consolidation.
Beware of tonight's Non-Farm Employment Change & Unemployment Rate.

Traders who still holding their short position are encouraged to take profit near this support.
if market turns up, I am looking at 1382-85 resistance level to plant shorts.

Downside target remain at 1350.

I do not think that market will get any higher than 1391... however, if market has break above 1391, it may rally towards 1400, plan your SL right.

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