May 10, 2013

gold strategy

Buy 1445-1447, take profit 1462, stop loss 1440

Sell 1476, take profit 1452, stop loss 1483

Today is nearly weekend, investors should order “stop loss” trading. 

Wish you have successful trading !
IMMS
New strategy
GOLD (Spot) intraday: the downside prevails. 
Pivot: 1478.00

Our preference: SHORT positions below 1478 with 1450 & 1441 in sight.

Alternative scenario: The upside penetration of 1478 will call for 1488 & 1507.

Comment: the RSI advocates for further downside.

Trend: ST Bearish; MT Bearish

Key levels Comment

1507** Intraday resistance
1488*** Previous high
1478** Intraday pivot point
1457.05 Last
1450** Intraday support
1441** Intraday support
1430**Previous low

GOLD (Spot) intraday: the downside prevails.

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