Gold tests 100 hour MA support
February 10, 2011 by Greg Michalowski · Leave a Comment
Gold waffles around in quiet Monday trading
February 7, 2011 by Greg Michalowski · Leave a Comment

Gold, is waffling around today but has moved below the 38.2% retracement of the move down from the January 2011 high of 1423.83 to the low at 1307.95. That level comes in at the 1352.22 level. On Friday the price approached the 100 day MA at the 1361 level today, and found sellers. If the price can remain below the 1352.22 area, the bias remains to the downside. If the price can not find sellers against the level, it is likely the price makes another run at testing the 100 day MA.
Gold slightly bearish awaiting more confirmation (or rejection)
February 2, 2011 by Greg Michalowski · Leave a Comment
Military in streets in Cairo.
January 28, 2011 by Greg Michalowski · Leave a Comment
Gold surges higher
Gold finds support from weak data, but contained
January 27, 2011 by Greg Michalowski · Leave a Comment
Golds key level holds. Watch today
January 12, 2011 by Greg Michalowski · Leave a Comment

Gold has resistance up at the 1386.96 level which is the 200 hour MA level. The 50% of the move down from the Jan high to the low comes in at the 1388.21 level.
The price remains between the Goal Posts as defined by the 200 hour MA (green line) and the 100 hour MA a thte 1274.20 level currently. Looking at the 5 minute chart the price has moved below the 100 and 200 bar MA (see chart below) . A breaks below the 1381.42 level is the next floor to get through.

Gold breaks lower
January 4, 2011 by Greg Michalowski · Leave a Comment

As per the Opening Forex Commentary, the 38.2% retracement line was a key borderline today for the gold. The price broke through that level and the selling ensued. The price broke through the 200 hour MA at the $1400 level and that level is now the resistance intraday. The next targets for the pair come in at $1386 area where a trendline is found. There is another target trendline below at the $1359 level. A break of this line should lead to further selling pressure for the pair.

Gold finds sellers below trendline MA support
January 3, 2011 by Greg Michalowski · Leave a Comment
