Monday, June 28, 2010

Crude and Gold Brief - June 28, 2010


Long term:

Daily 1 month

Overall trend says down month to month.

Short term:

Hourly Chart

This week we are seeing the test of significant psychological resistance at 80. Haven't got a chance to look at historical RSI data, but there is a high possibility of a new range of 75 - 80 on to higher levels in an upward trend; Upside is to 86.

This week as the chart indicates, range bound, we will see 75 before 80.


Gold is looking topsy. The worse of the sentiment selling may be over and we may see a correction in prices. We should see lower levels into July and August.

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