Sunday, October 28, 2007

GCZ7 Chart (Comex Gold)

Dear readers,

The trend is simply (still) up until it isn't. The move is extended and as the price keeps climbing the risk for a sharp sell off is also increasing. But for now after a modest ~25$ correction gold quickly recovered and made a new high. The trend (since August) support is currently coming at ~758$ . From an Elliott wave perspective (according to my count and understanding )support is at 749$ & 726.5$. Trend resistance at 803$ and climbing. More resistance at round numbers, contract highs , all times highs and Fibonacci targets.


thats all for now...

GCZ7 8 hours linear chart.

comex gold

2 comments:

Mr. profit said...

Hello,

You have a nice blog but you should create more topics, don't you think? Anyway where is your Forex account? I used the services of Marketiva Corporation for a long time. It has nice services but I always looking for the better and better platform ;)

troy said...

Mr. profit,

You can find many spot / futures brokers . all depends on your trading size. time frame and personal preferences. Personally I never heard of marketiva but I know this site with lots of brokers reviews : http://www.forexbastards.com/public/forex_broker_reviews