COMEX:GCZ2012   GOLD FUTURES (DEC 2012)
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Gold Price action reacted explosively to the released numbers and a possibility of QE3. Price action is trading in a clearly defined uptrend and any potential pullbacks could be seen by Bullish traders as an opportunity to look for Long setups. Current support on the downside is located at 1700 level followed by 1680 and 1645-55 level which is the falling support trend line and 200 Day SMA also. Alternatively any further upside could find resistance at 1800 level which is the previous significant high and horizontal. Indicators like MACD , Stochastic and RSI are at overextended levels.

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