2waytrading

3-Months of rough road for gold traders will it bounce now?

AMEX:GLD   SPDR GOLD TRUST
128 0 2
At least for now the Euro             and GOLD             seems have got a real dose or painkiller I am not sure how long it will last but we can foresee where buyers will get a tough fight. Bears or short sellers have had a nice profit if they don't get greedy they may as well get hampered next few weeks. If you detected the weakness sometime end of the July, you should by now feel happy if you were on the right side. Usually, when tested the low of the year specially 9-months apart, technical bounce is very likely but downside momentum may continue if price fails to make a few higher highs and higher lows that remains to be seen. Now, watch closely recent support that has been taken out which acts overhead resistance a clue 119.42 if gold             moves above 1235 that should not be a problem and it has higher chance to get it. If you want a real time alerts try us http://www.2waytrading.com
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