Gold

Broad-rock, that's exactly what I think is happening. Should be a good place to go long...

Yes it looks like it could be a really good buying area, but not to short
down to that level just incase it dosent get there.

Buying below 1670 could work out very well.

Scrub that, selling with a stop above 1755, I would like to see 1730-1740 for better entry.

dl.dropbox.com/u/43650856/Gold%20-%20daily%20-%202nd%20Dec.htm

Gold is looking weak now and i expect this to test the recent lows again.
Best level to go long now will be the main trend line at 1647 today.This level changes daily.




dyor

I you must be short then? 1661.50 should be a realistic target.

I've been short on this since 1720 and have added at today's backtest of the 1705 previous support, now resistance:



dl.dropbox.com/u/20815047/Golddaily05_12_12.gif

One thing about the target (assuming it does go that way); the blue Fibs on my chart show the extensions for a wave C down - the 100% level is at 1630. The 61.8% Fib of the move up from 1530 to 1795 is at 1630 and I have the main trendline support also at 1630. 1630 was also the original breakout point on the 1530 to 1795 move (top of a wave 1) so it's a really important level and I think it'll get tested. That's where I hope to close my shorts and go long.