InstaForex

Support/Resistance of the Day - Gold (1 June 2011)

Wednesday, June 1, 2011

H1 Chart

R3 1544.87
R2 1541.62
R1 1539.61
Pivot 1536.37
S1 1533.12
S2 1531.11
S3 1527.87

Again, gold broke another support trendline and approaching another support trendline that i drawn about 2 weeks ago (purple line). Since gold is weak since last week, i will expect that gold price will fall untill this level by the end of this week before it have chance to get back to uptrend. After it touch this support level, gold price need to be observe again. Seem like gold becmoe more volatile since last dramatis fall.

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