Forex | Forex | Gold Weekly Technical Outlook (05/09/2009 19:39:50)

Gold Weekly Technical Outlook

Comex Gold (GC) Gold rose sharply to as high as 999.5 last week, just shy of 1000 psychological level, before turning sideway. Initial bias remains on the upside this week as long as 986.4 minor support holds and further rise should be seen to resistance zone of 1007.7/1033.9 next. On the downside, below 986.4 will bring consolidation but pull back is expected to be contained by 965 support and bring rally resumption. In the bigger picture, gold's break of 974.3 and 992.1 resistance last week


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