DAILY GOLD TREND FOR 06 JAN

FOR A FREE TRADE  SETUP FOR NEXT 10 DAYS WITH ME  EMAIL NOW  bestech30@gmail.com TILL 07.00 PM TODAY 
Wednesday. February Comex gold last traded down $4.50
at $1,374.30 an ounce. The better U.S. economic data 
and rallying U.S. stock market are luring away the safe-haven
investment demand for gold as investor risk appetite
 has increased recently.

 An overall five-month-old uptrend is still in place on the daily
bar chart, but now just barely. Bulls' next near-term upside
 technical objective is to produce a close above psychological
resistance a $1,400.00. Bears' next near-term downside price
objective is closing prices below solid technical
support at $1,360.00.

Gold got “overextended” as 2010 drew to a close and it has
suffered as investors rebalance their portfolio, Zeman said.
Analysts and investors will be looking closely at settlement
prices in the next couple of days to get clues on whether
gold’s bull run is nearing its end, he said. “There has been
some argument today if this is a healthy correction or the
 beginning of the end,” he said

MY COUNTS FOR 06 JAN FOR FEB GOLD

RESISTENCE #2................................ $ 1395.00 (MCX Rs 20590)
RESISTENCE #1................................ $ 1385.00 (MCX Rs 20534)
PIVOT ............................................... $ 1374.30 (MCX Rs 20453)
SUPPORT #1..................................... $ 1361.60 (MCX Rs 20370) 
SUPPORT #2..................................... $ 1353.70 (MCX Rs 20315)

RECOMMENDATION : KEEP CLOSE EYES ON US JOBLESS CALIM TODAY AT 07.00PM

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