ZG support resist

R

RXIS

I've been away from the markets for a couple of weeks Can someone please give me an update on ZG?

I had support at about 624 and 619 with key support at 614. Resistance at about 638 and 645 and with key resistance at 658.6.
 
it all depends on your time frame

but after skimming a spot gold price chart

I would say the near term resistance is within a dollar of todays highs
 
Seth:

We blew through 1.30 on EURUSD, why do you anticipate Gold to stop? I think we will consolidate on both and retest higher highs before Year End.

surdo
 
I did not mean to suggest that the move ends at all

only that the first line of resistance is nearby

after todays huge gains there might be a pause

( which is what you also suggest )

esp if the move was exaggerated by thin holiday conditions

its a no brainer that if Euro rallies to 1.31 plus
and crude oil and xau miners rally next week
that gold take a look at higher levels of resistance
$5-10 higher esp if silver marches to $14.00
 
We be on the same page!
Dec Gold looks a little tired between here and $648.
I am a cautious contrarian myself.
Enjoy your leftover turkey.

surdo
 
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