Thursday, 12 July 2012

Gold in tight range will make big move soon

Gold continues to move inside a tight trading range as mentioned in previous posts. Gold will soon break its support at 1525$ or its resistance at 1640$. Whatever happens a big move will follow. Its best not to pick sides right now, but place stop orders at the extremes of the trading range. If 1525$ is broken, then my target will be below 1400$ at least. If gold breaks above resistnace, it can go towards 1750-1800$ if not towards new highs.Whatever side of the market you choose, place a stop order to protect your money because the expected move will be big.

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