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Gold Update:Intermediate term

Recent focus has been on the 34 and 89 week moving average,price hovering around 34 WMA or 200 Day, which is 1792.52.Buyers need to make this level as support.

One important notable thing is 89 WMA which is 1747.77,and price never close below this level on weekly closing basis since medium/long term breakout at 1366 began.

Conclusion: I would be a buyer around 1770 region and add more till 1750,with protective stop 1747 on weekly closing basis.Today’s close above 1792 would be bullish for next week.

Happy weekend.


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