October 1, 2012

The Imminent Warning: For Those Who Long Gold

The Imminent Warning: For Those Who Long Gold

Click to see: The Weekly Chart of Gold, September 2012

Gold has shown modest gains last week. With the austerity measures going on Spain and the QE3 on progress, we are now wondering where gold might go at least until the end of 2012.

  • There are strong resistance around the round number $1,800
  • The EMA 8 and EMA 21 are clearly showing up trend
  • The MACD show a high possibility of reversal around this point of time. 

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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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