GOLD: Set To Recapture The 1,133.18/1,141.88 Levels
Thursday, March 18, 2010
by Mohammed Isah of FXTechstrategy.com
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GOLD: Set To Recapture The 1,133.18/1,141.88 Levels
GOLD (Futures): While the immediate challenge is for the commodity to break and hold above the 1,133.18 level, its Mar 17’10 high and the 1,144.88 level, its Mar. 04 high, we think that as long as Gold maintains above the 1,088.20 level and its long term rising trendline currently located at the 1,075.45 level, a violation of those levels is likely. In such a case, the 1,161.88 level, its Feb. 11 high will be targeted ahead of its psychological level sited at 1,200 and then its 2009 high at 1.226.33. Its daily and weekly studies are bullish and pointing higher supporting this view. On any pullbacks from its current price levels, the 1,098.23 level, its Mar 12’10 low will be targeted with a break of there setting the stage for further downside pressure towards the 1,088.20 level and its longer term rising trendline at 1,075.45. On the whole, having maintained its recovery tone set from the 1,098.23 level, further upside risk now eyes the 1,133.18/1,141.88 levels and beyond.
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This report is prepared solely for information and data purposes. Opinions, estimates and projections contained herein are those of FXTechstrategy.com own as of the date hereof and are subject to change without notice. The information and opinions contained herein have been compiled or arrived at from sources believed to be reliable but no representation or warranty, express or implied, is made as to their accuracy or completeness and neither the information nor the forecast shall be taken as a representation for which FXTechstrategy.com incurs any responsibility. FXTstrategy.com does not accept any liability whatsoever for any loss arising from any use of this report or its contents. This report is not construed as an offer to sell or solicitation of any offer to buy any of the currencies referred to in this report.
Mohammed Isah is a Technical Strategist and head of research at FXTechstrategy.com, a technical research website. He has been trading and analyzing the foreign exchange market for the past 7 years.
He formerly traded stocks before crossing over to the forex market where he worked for FXInstructor LLC as a technical analyst and head of research before Joining FXTechstrategy.com. Mohammed has written extensively on the forex market and technical analysis and his articles have been featured in The Technical Analyst Magazine, The Forex Journal Magazine, Thestreet.com, MoneyShow, The Technical analysis of Stocks & Commodities Magazine, Businessinsider and FXstreet.com
At FXTechstrategy.com he writes daily and weekly technical commentaries on currencies and commodities which are offered to its clients. He provides full coverage of the forex market with specific daily focus on 7 currencies (EURUSD, GBPUSD, USDJPY, EURGBP, EURJPY, AUDUSD and USDCAD) and the Dollar Index utilizing various technical tools and strategies. He also covers the commodities market twice in a week focusing on in-depth technical developments in GOLD, CRUDE OIL, SILVER, CORN, WHEAT and CRB Index. 
