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5-years chart - uptrend continues after a very powerful cup & handle completed in Sep09, bullish.
1-year chart - turned to downtrend after a parabolic run ended on 03-Dec-09, broke down the critical support at 1073 yesterday, bearish. Although there will be some weak support around 1024 area, I don't think it can hold and the real chance seems at 990 support line which was extended from the previous powerful cup & handle. That would be gold point for gold bulls to go long.
1-month chart - new downtrend is set up after a failed rebound. Bearish however near-term very oversold. There should be a chance to retest 1073 for trapped gold bulls.
Long term - bullish - no position (be patient!)
Mid term - bearish - no position
Short term - bearish/neutral - no position |
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