Thursday, 6 September 2012

Profits from our analysis in GOLD and COCOA

 Gold is now above 1700$ and has the potential to move higher. Our confirmation of the upward move was initiated from the break of 1630$ resistance, but we noted many times that one could go long at 1560-70$ with 1525$ as a stop. Even if one only bought when gold broke out, profits of 70$ per ounce would be greatly appreciated. Resistance lies at 1800$. A decent pull back could be seen at those levels. In the short term, trend remains upward with a stop at 1688$.

COCOA was another of our suggestions of a starting new upward move and it looks like we are at the start of it. Resistance at 3000$ could be the first pause of this rise. 2550$ could be used as a short term stop loss, but the basis of this upward move is at 2400$.

I hope my analysis has proven profitable to most of you and I want to thank you for taking the time to read my posts.

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