The Gold continuous daily chart closed right at TL resistance at 1006. It has not really broken out yet as we would first need to clear the 3/17/08 ATH at1017.50 Resistance, but the daily, weekly and monthly trends remains up. We then have LTmonthly resistance at 1028 and channel resistance at 1075-85. We closed right at TL resistance on 9/11, which suggests a pullback is due. First sign of trouble is any break below 951and MOB support is at 796.
Daily CITs are: 9/17, 9/24-25*, 9/30, 10/2, 10/30 and 5/2/10. It also has an Apex CIT on 11/17+/-.
The Gold weekly chart has 1st resistance at 1017.50, then 1075 channel Resistance. We closed up + 9.70 at 1006.40 this past week. 1stsupport is at 939 and major TL support is at 829 and MOB support at 678.
The Gold Monthly chart has Long term Resistance at 1028 and 1085 Channel Resistance. We need to break above 1085 for a real break-out to take place, The 49 Month cycle was the April 09 Low.
1st support is at 815 and MOB channel support is at 691.
Monthly CITs: 10/09, 3/2011, 1/2012
(T&C Forums – Knowledge Contributor)