DAILY GOLD TREND FOR 06 DEC 2010

GOLD FUTURE HAD ANOTHER STRONG WEEK

MY ANALYSIS

Fundamentally,  I believe  GOLD FUTURES will make another
new set of all time record highs for because Weaker US doller,
and China increasing their gold reserves.  Technically  Comex
Gold Future also close above all time high score.

This development has put the commodity on the path to further upmove towards

the 1,424.30 level. On a further strength, Gold should target

the 1,450.00 level and then the 1,500 level.  To reverse this view,

the commodity will have to break below the 1,388.10 level and

the 1,315.60 level to annul its current bullish build up. 

 All in all, the commodity looks to return above the 1,424.30 level

 while holding above the 1,388.10 level and its MT rising trendline.

KEEP AN EYE ON CHINA INTEREST RATES

MY COUNTS FOR 06/12 FEB GOLD
RESISTANCE # 2............$1424.00(MCX Rs 20988)
RESISTANCE # 1............$1416.00(MCX Rs 20875)
PIVOT..............................$1402.60(MCX Rs 20706)
SUPPORT # 1..................$1391.00(MCX Rs 20589)
SUPPORT # 2..................$1375.00(MCX Rs 20437)


MY COUNTS FOR 06/12 MAR SILVER
RESISTANCE # 2............$29.86(MCX Rs 44930)
RESISTANCE # 1............$29.57(MCX Rs 44501)
PIVOT..............................$29.08(MCX Rs 43878)
SUPPORT # 1..................$28.79(MCX Rs 43466)
SUPPORT # 2..................$28.30(MCX Rs 42900)

RAHUL KUMAR
GOLD Analysist

Comments me : bestech30@gmail.com

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