DAILY GOLD TREND FOR 15 DEC 2010

As the Fed decided to keep the Fed Fund Rate unchanged today

Fundamentally,  I believe COMEX GOLD FUTURES will continue
to make all time record highs for 3 reasons:

1. Sovereign debt issues
2. China increasing their gold reserves
3. Inflationary fears

Technically, COMEX GOLD FUTURES are moving back
into a SUPER TREND higher as the market trades back
above the 9 day MOVING AVERAGE as the 9 MA is above t
he 20 day MOVING AVERAGE

But the most of traders taking quick profit above $ 1400 level.
As we move toward the Holiday season and end of the year some more
profit taking seen at higher level

MY COUNTS FOR 15/12 FOR FEB GOLD

RESISTANCE # 2........$1415.00(MCX Rs 20800)
RESISTANCE # 1........$1405.00(MCX Rs 20730)
PIVOT..........................$1398.00(MCX Rs 20657)
SUPPORT # 1..............$1391.00(MCX Rs 20585) 
SUPPORT # 2..............$1382.00(MCX Rs 20510)

RECOMMENDATION : TRADE BETWEEN SUPPORT AND RESISTENCE LEVEL

RAHUL KUMAR
GOLD Analysist

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