Pergerakan emas seterusnya (7-09-2009)

Gold ST: the upside prevails

Our pivot point stands at 925.

Our preference: As long as 925 is not broken down, we favour an upmove with 1000 and then 1033 as next targets.

Alternative scenario: A break below 925 would not invalidate the medium-term bullish configuration, but the index could decline towards its next support at 870.

Comment: The daily technical indicators are bullish but are close to resistances.

Trend: ST rise; MT bullish.

Supports and resistances:
1120 ***
1033 **
1000 ***
990 last
925 **
870 **
800 ***