Wednesday, April 25, 2012
25 | Daily
DAILY - Gold inclined as high as 1648 but couldn't be stable above 1643 (50% Fibonacci - weekly range). At this moment, MACD on time frame 4H is heading up and about to cross the zero line, while on time frame 1H is already crossed and heading down, in this case more consolidation would be seen before it continues its up movement with the target 1648 - 1652 - 1657.
If the price remains below 1640 (50% Fibonacci - daily range), then it flips back to the downside and testing yesterday Low around 1633 or even lower.
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