Thursday, June 08, 2006

XAU , Spot Gold daily chart

Gold in terms of USD is down to the 61.8 Fibonacci level which is close to the 100 EMA and a the slight uptrend support. See also - Gold stocks indices.

XAU ,Spot Gold chart

1 comment:

Sergio Cámara said...

We have reach a buying level, but until, we don´t see a maximun in a weekly chart, and it pass the 640-650 level, we should remain bullish, but at this point it doesn´t make much sense open short positions.

In case the gold goes lower, the 585 level is a huge support.

When gold began to move up, we are going to see a lot of zigzag moves, so we have to remain calm, and always buy in a support and sell in resistence. The key of this game is attitude.

At the end, the market shows us the way to go, and we have just to act in the following the market.

Have a nice day. Bye from Spain in the day of my birthday ;-)



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